Martin Lewis Britain Instagram Celebrity Platform Martin Lewis Britain

NatWest issues warning after victim loses £370K in scam - 'Becoming increasingly common'

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READ MORE: Carers risk losing £279 a month by claiming certain benefits - check nowLinkThis is an increase of nearly 40 percent on last year's highest value celebrity investment scam, which saw a victim lose £266,000.

NatWest's annual celebrity scam super league table revealed MoneySavingExpert founder Martin Lewis's name was also taken in vain, with the highest value case featuring the well-known TV presenter last year seeing one individual hand over £317,000 in a fake "Bitcoin Evolution" investment scam.

The bank's study suggested Instagram is the most exploited platform criminals use to push fake adverts, with the number of scam ads on Facebook and Snapchat following closely.

None of these celebrities have any involvement in the scams, but their images and reputations are being abused by fraudsters.

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