WHAT IS IT?
Cryptocurrencies are digital currencies that use cryptography to generate ‘tokens’ and verify the transfer of these tokens between people. Criminals have taken advantage of the unregulated nature of cryptocurrencies to scam consumers.
Fraudsters are commonly using cryptocurrencies to defraud unwitting victims in two area. Firstly, in offering tempting and exciting investment opportunities, and secondly, as a method for making demands for payment.
The latter type of scam is often found in Romance Frauds where the person met online has requested money to make some fictitious “emergency” payment and proposes to the victim that they open a Bitcoin account to transfer that money.
Do remember that unlike buying traditional currency or other assets, if you send your crypto to a scammer, you can’t contact your provider to recall your transaction, as you would if you were using a credit card, so your money is lost.
How does the Investment Scam work?
Fraudsters will cold call victims and use social media platforms to advertise ‘get rich quick’ investments in “mining” and trading in cryptocurrencies.
Fraudsters will convince victims to sign up to cryptocurrency investment websites and to part with their personal details such as credit card details and driving licences to open a trading account. The victim will then make an initial minimum deposit, after which the fraudster will call them to persuade them to invest again in order to achieve a greater profit.
In some cases, victims have realised that they have been defrauded, but only after the website has been deactivated and the suspects can no longer be contacted.
What to watch out for –
• Criminals will advertise schemes promising, in some cases, high returns through cryptocurrency investing or mining.
• These adverts may look official, include celebrity endorsements or personal testimonies. Often the celebrities may not even know their name or photograph has been used.
• Frequently advertised on social media, criminals try to lure you in with adverts offering easy money quickly.
• Criminals benefit from the turbulence of the cryptocurrency markets, rushing people into parting with their money, pretending they are buying in at the right time.
• If something goes wrong with a cryptocurrency investment you are unlikely to get your money back, because they mostly are not covered by the UK’s Financial Services Compensation Scheme.
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 celebrities to make their scams appear legitimate.
• Don’t be rushed or pressured into making a decision – 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.
Please feel free to share this information with any family, friends, neighbours.
—————————————————————————————– Take Five to Stop Fraud
STOP: Taking a moment to stop and think before parting with your money or information could keep you safe. CHALLENGE: Could it be fake? It’s OK to reject, refuse or ignore any requests. Only criminals will try to rush or panic you. PROTECT: Contact your bank immediately if you think you’ve fallen for a scam and report it to Action Fraud
ALWAYS REMEMBER:
• Avoid disclosing security details
• Emails, Phone Calls and Texts may not be authentic
• Always make direct contact with any organisation by using a genuine phone number
• Stop and Challenge any unexpected requests
• Protect others by reporting Fraud and Scams
—————————————————————————————————–
If you’ve fallen for a scam,
report it to Action Fraud on 0300 123 2040 or via actionfraud.police.uk
Scam Text messages can be forwarded to 7726 to help phone providers take early action and block numbers that generate spam on their networks.
Forward Fake Emails received to
If you think your bank account or personal banking details have been used fraudulently, then use the short phone number – 159 – to contact the Fraud Prevention Department of most major UK banks.
Message Sent By
Michael Barbour
(Police, PSV, Economic Crime Unit – Fraud Protect’ )
Please note that it is not possible to report crimes or incidents via Neighbourhood Matters. To make a report of a crime or incident, please contact West Mercia Police at www.westmercia.police.uk or dial 999 in an emergency.
You are receiving this message because you are registered on Neighbourhood Matters. Various organisations are licensed to send messages via this system, we call these organisations “Information Providers”. Please note that this message was sent by The Police and that The Police does not necessarily represent the views of Neighbourhood Matters or other Information Providers who may send you messages via this system.
You can instantly review the messages you receive and configure which Information Providers can see your information by clicking here, or you can unsubscribe c
http://www.southlenchesparishcouncil.org/wp-content/uploads/2020/04/logo.png00Clerkhttp://www.southlenchesparishcouncil.org/wp-content/uploads/2020/04/logo.pngClerk2024-02-20 14:12:462024-02-20 14:12:46WEEKLY FRAUD UPDATE FROM WEST MERCIA POLICE - ECONOMIC CRIME UNIT - 20/02/2024
We may request cookies to be set on your device. We use cookies to let us know when you visit our websites, how you interact with us, to enrich your user experience, and to customize your relationship with our website.
Click on the different category headings to find out more. You can also change some of your preferences. Note that blocking some types of cookies may impact your experience on our websites and the services we are able to offer.
Essential Website Cookies
These cookies are strictly necessary to provide you with services available through our website and to use some of its features.
Because these cookies are strictly necessary to deliver the website, you cannot refuse them without impacting how our site functions. You can block or delete them by changing your browser settings and force blocking all cookies on this website.
Google Analytics Cookies
These cookies collect information that is used either in aggregate form to help us understand how our website is being used or how effective our marketing campaigns are, or to help us customize our website and application for you in order to enhance your experience.
If you do not want that we track your visist to our site you can disable tracking in your browser here:
Other external services
We also use different external services like Google Webfonts, Google Maps and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here. Please be aware that this might heavily reduce the functionality and appearance of our site. Changes will take effect once you reload the page.
Google Webfont Settings:
Google Map Settings:
Vimeo and Youtube video embeds:
Privacy Policy
You can read about our cookies and privacy settings in detail on our Privacy Policy Page.