Investment scams are one of the most common tactics used by scammers to steal money or cryptocurrency. These schemes are made to look just like real investment opportunities for crypto trading, stock market trading or even gold, fine art, or whiskey.
Investment scams often promise minimal risk and high returns, making them seem too good to resist. If an investment opportunity sounds too good to be true, it almost certainly is.
Investment scams can be one of the most difficult types of APP (Authorised Push Payment) fraud to spot and avoid. Unfortunately, they are also one of the most damaging. The UK reports an average of over 10,000 cases yearly, resulting in a loss of more than £110 million in 2022 alone – a trend that looks set to continue.
Cryptocurrency – often referred to as ‘crypto’ – is a type of digital currency that is mainly used for investments. There are thousands of distinct types of cryptocurrency, with Bitcoin, Ethereum, and Tether being some of the most popular. If you decide to invest in cryptocurrency you should do so using a reputable crypto provider.
At Finsafe we have helped many people recover their losses after falling prey to crypto investment scams.
You may have heard of cryptocurrency being “decentralised”. This means that it is not attached to any one country, bank, or company. This is one of the greatest benefits of cryptocurrency, but it is also one of the biggest issues. Recovering money or assets lost to crypto scams is possible, but it is more difficult than traditional fraud.
Trading scams are fraudulent schemes which involve financial markets. Scammers trick investors into “investing” large sums of money with “guaranteed returns”. These schemes are often used by unlicensed trading and brokerage firms operating without the authorisation of the Financial Conduct Authority (FCA).
Common scams include forex and stock market schemes and binary options fraud, often involving fake brokers or misleading information. Here at Finsafe, our team specializes in dealing with a wide variety of different online trading scams and can help you to recover money and funds lost through these trades. Whether you’ve lost money through a CFD Scam, or made trades through Forex that resulted in financial loss as the result of an online trading scam, our team can work to trace this trade and look to recover the lost funds.
There are many different ways in which scammers can conduct online trading scams, all whilst appearing legitimate, that can lead to investors and traders losing their money. We have a range of services here at Finsafe dedicated to online trading scams and losses and our team is on hand to help trace and recover these trades.
Scammers representing tax authorities threaten victims of alleged tax violations with legal repercussions in a taxation withdrawal scam. They force victims into making illegal withdrawals or payments by using fear and a sense of urgency. Usually, it starts with unsolicited correspondence requesting payment right away using unusual means. Scammers ask for fees upfront, like "capital gains tax" or "IRS tax," for withdrawing investment profits. Then, they ask for more money for "processing" fees
An online dating scam, commonly known as a romance scam, is a type of criminal fraud. A con artist creates a false identity in this scam in an attempt to win the victim's love and trust. The con artist then uses this connection as leverage to make a money demand.
Romance scammers may approach you on popular social media sites like Facebook or Instagram, or they may pose as users on dating apps and websites. The con artists build a rapport with you through infrequent daily chats or conversations in an effort to win your trust. After that, they fabricate a story to embezzle money.
