TIM DREW: Investment opportunities may be too good to be true
Action Fraud has recently warned about fraudulent websites purporting to offer cryptocurrency investments, and which are dishonestly using the image of Martin Lewis, the founder and editor for moneysavingexpert.com, as an endorsement for their companies. Martin Lewis has denied having ever had anything to do with these websites.
These websites are also misusing images and fabricating recommendations from the investors on Dragons’ Den. Their advertisements claim that the investors on the panel trade in cryptocurrencies using their services so as to give an appearance of legitimacy to their activities.
Action Fraud’s advice is to bear in mind that, no matter how professional-looking or genuine the websites, advertisements or social media posts may appear, the investment opportunity may not be genuine. Criminals can exploit the names of well-known brands or individuals to make their scams appear plausible.
A genuine financial organisation, registered with the Financial Conduct Authority or the Prudential Regulation Authority and listed on the Financial Services Register, will not force you to make financial transactions on the spot.
Always be wary if you are pressured to invest quickly or promised returns that sound too good to be true and remember that this is also a criminal offence under the Consumer Protection from Unfair Trading Regulations 2008.
No organisation as above registered would cold-call you because to do so would be illegal, so you can say as much to fraudsters who may offer to provide you with their registered number.
• The first of this year’s Neighbourhood Watch Town Centre events takes place on Saturday in Montague Place between 10am and 4pm. We will be providing cycle marking services free of charge, but will require evidence of identity such as passport or driving licence.
• The East Worthing Neighbourhood Panel meets on Tuesday at 6.30pm at the East Worthing Community Centre in Pages Lane.
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