London police recently revealed that "get rich quick" fake investment scams are soaring among young people. With more than £890 million lost to online investment scams in the UK last year, criminals are changing the way they hunt and social networking platforms have become their most powerful tools.
Watch out! Online fake investment scams have soared
The figures show that the total amount of money lost to investment fraud in the UK in 2021/22 has increased by a staggering 49.5% over the previous financial year (directly from £596,053,731 to £890,916,169). New figures from the National Fraud Intelligence Bureau (NFIB) also show that 26,170 investment scams were reported over the same period, meaning victims lost an average of £34,043.41 per person, with younger age groups the most likely to fall victim to such scams.
A total of 39% of investment fraud victims are reported to be between the ages of 20 and 39, with 40 to 49 being the third highest age demographic (16%). Many victims are lured to the site by fake online advertising, which is followed by either an authorized push on a fake or cloned website, or by criminals obtaining their personal information and bank credentials through remote access tools or phone calls. The past two years have seen an increase in the number of victims who have been lured into making fake investments in the past through social media, as well as an increase in cryptocurrency investment scams.
Police warn that fraud is widespread and can devastate individuals and families. With the cost of living crisis on the rise, making money is now everyone's top priority and more people are likely to fall victim to this devastating fraud as they look for a way to earn a quick buck to help pay their bills. Always be vigilant and take the time to research thoroughly before deciding to invest any amount, as this will help protect you and your money.
How do you spot the signs and protect yourself?
Before you decide to invest, be sure to do your research and don't let anyone rush you. Only criminals can put pressure on you to make a quick decision. Stop, take some time to think and consult trusted friends and family before deciding whether or not to transfer money.
If you are asked to exchange money into cryptocurrencies to make investments or payments through cryptocurrencies, be cautious, this is often a tactic used by fraudsters.
Please note that some investment opportunities are available through social media, but you will always need to do additional research to verify the effectiveness of such opportunities.
Fraudsters have been known to use social media to court connections to facilitate fake investments. If people you haven't met are constantly urging you to invest, be cautious.
Five, scammers usually create a professional-looking website, and use false business places to give people the impression of legitimacy, you must pay attention to the compliance of the audit platform before investing.
Do not let anyone control your phone or computer for any reason, reputable companies will never do this.
Seven, scammers usually create a professional-looking website, and use false business places to give people the impression of legitimacy, or even completely copy other websites, you must carefully review the compliance of the platform before gold.
Source: FX110
