Martin Lewis was forced recently to address a new scam which names him as an originator. This week, the Money Saving Expert was asked to confirm if a viral story attributed to him has any legitimacy.
“I’ve NOT talked about it. Always be scam aware, but this sounds nonsense.
“If you do get scam text/emails it describes, its likely phishing for data, so delete.
“Yet the scam alert’s no better and ain’t from City of London Police as far as I know.”
Scams can be very difficult to recognise but there are certain things people can look out for to better help them identify fraudulent activity.
Unfortunately, Action Fraud have warned of a rise in investment fraud reports just as England enters a second lockdown.
Between, September 2019 and September 2020, Action Fraud received just over 17,000 reports of investment fraud, amounting to £657.4million in reported losses, a general increase of 28 percent when compared to the same period last year.
Additionally, reports of these kinds spiked in the months following the introduction of the initial lockdown, which doesn’t bode well for the coming months.
Pauline Smith, the Head of Action Fraud, commented on these worrying trends: “The coronavirus outbreak sadly led to many people losing their job or having to manage with a lower income than they were used to. It has also caused a shake up in the economy in general, with interest rates falling, in a similar way to the financial crisis of 2008. All of these factors provide criminals with the opportunity to attract more people with their fraudulent investment schemes.
“Preying on people when they are at their most vulnerable really shows how low these criminals will stoop to make a profit for themselves. That is why we are working hard with our law enforcement colleagues, and partners in the finance industry, to tackle investment fraud and empower the public to spot a scam.”