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Won’t connect to legitimate financial institutions
- Scam trading platforms won’t connect to legitimate financial institutions because they’ll be discovered as frauds. Instead, the scammers will walk you through how to convert dollars to cryptocurrency on a legitimate trading platform first, and then ask you to transfer the crypto to them.
www.cftc.gov/sites/default/files/2023-04/SpotFraudSites.pdf
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Mar 20, 2023 · People are being increasingly targeted by investment scams carried out via online trading platforms where fraudsters offer trades in foreign exchange, contracts for difference and cryptoassets such as bitcoin.
- How The Scams Work
- Raising Awareness
- Stay Safe When Scrolling
- Notes to Editors
Fraudsters often use social media to promote their ‘get rich quick’ online trading platforms. Posts often use fake celebrity endorsements and images of luxury items like expensive watches and cars. These then link to professional-looking websites where consumers are persuaded to invest. Investors will often be led to believe that their first invest...
As part of the FCA’s ScamSmart campaign the FCA will be running advertising to raise awareness of online trading scams. Running on social media, the ScamSmart adverts aim to make consumers more sceptical of ‘get rich quick’ trading scams promoted online. Supported by the City of London Police, the FCA’s ScamSmart campaign encourages those consideri...
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...Stay in control– avoid uninvited investment offers whether made on social media or over the phone. If you’re thinking about making an investment, thoroughly research the company first and consider...Make the right checks – Firms providing regulated financial services must be authorised by the FCA. You can check whether they are authorised on the Financial Services Register. Use the contact det...Every report matters – If you have been a victim of fraud or cyber crime, report it to Action FraudLink is external.Cryptoassets is a broad term covering many different types of products. The most popular forms of cryptoassets include tokens like ‘Bitcoin’ and ‘Litecoin’. The FCA call these ‘exchange tokens’ but...Action Fraud data for forex and crypto investment scams. All losses have been taken from the field ‘amount given’ and ‘incurred losses’ on the Action Fraud reports which is not quality assured, the...Find out more information about the FCA.Scam trading platforms won’t connect to legitimate financial institutions because they’ll be discovered as frauds. Instead, the scammers will walk you through how to convert dollars to cryptocurrency on a legitimate trading platform first, and then ask you to transfer the crypto to them. Remember, blockchain transactions don’t
Jul 17, 2024 · Jul 2024. Fraudulent Online Trading Platforms Or Websites might seem like it offers some great investment opportunities, and you may have seen people recommending it in emails, forums, chat groups, and on social media. But is it really a secure and trustworthy broker? Let's find out.
Nov 28, 2023 · Online trading scams are deceptive schemes that aim to defraud individuals who are seeking to invest or trade in financial markets. These scams come in various forms, and target unsuspecting investors, promising lucrative returns or exclusive opportunities.
Sep 7, 2022 · A typical cryptocurrency scam involves a consumer being persuaded to purchase a cryptocurrency through a legitimate intermediary and sending money to what they believe is a genuine investment platform, but which is in reality operated by fraudsters.
Online fraud and scams come in many forms, including fake websites or online adverts, scammers taking over email accounts, malware and computer viruses and fake investment opportunities, cryptocurrency offers and trading platforms.
