‘Worrying rise’ in crypto scams claiming to be celebrity-endorsed seen by bank

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Santander UK said. Based on the current growth in these frauds, Santander UK is expecting to see an 87 per cent increase in volume of cases in 2022, compared with 2021.

Familiar faces are being misused on social media in order to con people out of often life-changing sums of moneyChris Ainsley, head of fraud risk management, Santander UK, said: “We’re seeing a worrying rise in ‘celebrity-endorsed’ cryptocurrency scams, where familiar faces are being misused on social media in order to con people out of often life-changing sums of money. “Rather than revelling in the promised high returns, people are losing significant sums after being duped by these highly sophisticated criminals. “Always do your homework and thoroughly research any investment opportunity before moving any money – irrespective of who is endorsing it. ”Scams may involve people seeing a celebrity appearing to be advertising cryptocurrency online, or they may be introduced via another social media user to a crypto “investment opportunity”, which appears to be endorsed by someone famous.

The customer clicks on a link and shares their contact details to find out more. Find out if you're ready to invest. Smart investors do their homework https://t.

co/UWIOBGxux3 #InvestSmart pic. twitter. com/jndnkP8IAEThey are then contacted by phone, email or social media, and offered high returns with “little or no risk”.