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Cryptocurreny Investment Scams

Criminals will cold call consumers and convince them to share their personal details and to sign up to cryptocurrency investment websites. The consumer is then asked to make an initial minimum deposit, after which the criminal will call again to persuade them to invest more to achieve a greater profit.

Consumers have realised that they have been defrauded, but only after the website has been deactivated. The friendly person they had previously spoken to can no longer be contacted.

Action Fraud have provided these tips on how to protect yourself:

• Don’t assume it’s real – professional-looking websites, adverts or social media posts don’t always mean that an investment opportunity is genuine. Criminals can use the names of well known brands or individuals to make their scams appear legitimate.

• Don’t be rushed or pressured into deciding – a genuine bank or financial organisation won’t force you to part with your money on the spot. Always be wary if you’re pressured to invest quickly or promised returns that sound too good to be true.

• Stay in control – avoid uninvited investment offers, especially those over cold calls. If you’re thinking about making an investment, get independent advice and thoroughly research the company first