Investment fraud soars by 49 per cent as criminals exploit social media

Published by
City AM

By Jack Mendel Almost £900m has been lost to investment fraud in the past year, as police warn about the rise in the use of social media for bogus schemes. The lure of so-called ‘get rich quick’ initiatives have become “rife” during the cost of living crisis, as millions look for fix to their finanical woes. In a warning by the City of London Police today, it was announced investment fraud in the last year rose 49.5 per cent. The increase from £596m to £890m was accompanied by data from National Fraud Intelligence Bureau (NFIB), who recorded more than 26,000 reports to Action Fraud, with victi…

Read More


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.