Impersonation scams involving cryptocurrencies are rising in the United Kingdom. In light of this development, two fraud experts dispensed guidance to protect the British public presently grappling with the cost-of-living crisis in the country.
We feel concerned about the increasing incidences of impersonation scams involving cryptocurrencies. We believe we can help our readers stay safe by sharing this report with them.
According to the news posted online by British daily national tabloid newspaper The Daily Express, Pauline Smith encouraged the people who believe they are victims of impersonation scams involving cryptocurrencies to report their case immediately to Action Fraud.
The latter is a fraud watchdog, where Smith is the director. Smith affirmed they at Action Fraud often encounter reports where perpetrators of impersonation scams involving cryptocurrencies mimic officials and police officers.
She warned consumers that these criminals would attempt every trick in the book to try and persuade their prey to separate from their hard-earned money.
Action Fraud has previously cautioned the British public about the threat posed by swindlers perpetrating impersonation scams involving cryptocurrencies. Stuart Skinner is a scam expert at NatWest.
He confirmed that fraud is surging in the United Kingdom these days. Skinner explained how fraudsters who commit impersonation scams involving cryptocurrencies use their operations to further their crimes.
He aided the public by informing them that knowledge is the most powerful tool they possess in beating the scammers.
The NatWest fraud expert remarked that the British public could take the necessary steps to safeguard themselves by being mindful that perpetrators of impersonation scams involving cryptocurrencies are exploiting celebrities’ images.
Skinner added that an advertisement that sounds too good to be true is often a fraud. He also cited that an advertisement promising sizable profits, high return rates, or offering assistance in cryptocurrency investment is likely to be a dishonest scheme.
Fraudsters committing impersonation scams involving cryptocurrencies take advantage of many Britons who are struggling with the present cost-of-living crisis. These victims are in precarious and uncertain financial situations, eager to bite the bullet.
One NatWest bank customer recently transferred more than £370,000, or exactly US$443,262.22 at the time of writing this news, to a swindler.
This victim believed the criminals who claimed to be “This Morning” show hosts Holly Willoughby and Philip Schofield. They encountered the virtual currency investment fraud on social media, purporting to feature the two well-known public figures.
The victim believed the sham cryptocurrency investment scheme could help them reap considerable gains, which actually resulted in a loss. We appreciate the concern of and assistance the two British fraud experts provided to the public.
We are well aware that the United Kingdom’s citizens are currently grappling with the cost-of-living crisis marked by fuel, food, and other commodities’ ballooning prices.
We feel dismal as the swindlers perpetrating impersonation scams involving cryptocurrencies are taking advantage of the people’s plight.
We gathered that these fraudsters utilize the images of famous public figures such as Sir Richard Branson, Gordon Ramsey, Martin Lewis, and Piers Morgan in creating fake advertisements to forward their frauds.
We recommend the British law enforcement authorities strengthen their efforts in stemming these crimes. In this manner, they can help the consumers who are already struggling with high inflation and other socio-economic problems today.