September 10, 2023

Nottinghamshire Faces Alarming Rise in Fraud Cases: Cryptocurrency Scams Leave Residents Devastated with Losses Amounting to Tens of Thousands

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Fraud Officers Warn Public About ‘Get Rich Quick’ Investment Scams

Nottinghamshire victims have lost huge sums of money to investment scams, prompting fraud officers to issue a warning to the public.

Increasing Reports of Advance Fee Fraud

In recent months, Nottinghamshire Police has received dozens of reports of people falling victim to advance fee fraud. This type of fraud involves scammers promising valuable returns in exchange for upfront payments.

Rising Number of Cases

New data reveals that there were 41 cases reported to Nottinghamshire Police in July, a significant increase compared to the 30 and 28 cases reported in May and June respectively.

Real-Life Examples

Several victims have shared their experiences of falling for these scams:

A woman in her 60s lost £24,000 in an online cryptocurrency scam after clicking on an advert that appeared to be promoted by Martin Lewis. She paid a £250 fee and invested money, only to find out that her balance was empty.
An elderly couple paid £56,000 over seven months, believing they were investing in bitcoins. They fell for the scam due to the persuasive tactics of the fraudster.
A vulnerable female was almost defrauded out of £70,000 in a similar scheme, but her bank intervened and stopped the transaction.

Advice from Detective Sergeant Tara Clapperton

Detective Sergeant Tara Clapperton, of Nottinghamshire Police’s fraud team, urges caution when considering online investment schemes. She emphasizes the importance of thorough research and not being rushed into making decisions.

She also advises people to be wary of unexpected requests for investments or money, especially from unknown individuals. If an opportunity sounds too good to be true, it probably is.

How to Spot the Signs and Protect Yourself

Take your time and consult trusted friends and family members before making any investment decisions.
Be cautious if asked to change money into cryptocurrency or make payments via cryptocurrency.
Verify the validity of investment opportunities promoted on social media.
Check if investment businesses are authorized by the Financial Conduct Authority.
Avoid letting anyone take control of your phone or computer.

Take Five to Stop Fraud

Follow the Take Five to Stop Fraud advice:

STOP: Take a moment to stop and think before parting with your money or information.
CHALLENGE: Reject, refuse, or ignore any requests that could be fake.
PROTECT: Contact your bank immediately if you suspect you’ve fallen for a scam and report it to Action Fraud.

Report Fraud Incidents

If you believe you have been a victim of fraud, report it to Action Fraud online at www.actionfraud.police.uk or call 0300 123 2040. Reporting incidents helps build a national picture and prevents others from falling victim to scams.