Warning over scam
● ACTION Fraud has warned Halton investors to be vigilant over a cryptocurrency scam.
The agency said fraudulent websites offering cryptocurrency websites are dishonestly using the image of Martin Lewis, the founder and editor for moneysavingexpert. com, as an endorsement for their companies.
The adverts using Mr Lewis to promote illicit schemes can be found on social media and other websites.
Clicking on the advert takes the user to the full article where Mr Lewis’s image is presented along with fake quotes recommending investments in Bitcoin and other digital currencies with the fraudulent ‘company’.
Alternatively, clicking on the advert will visit a page requiring contact details, the suspect company then phones the potential investor and encourages them to invest.
Mr Lewis has published a warning to the public. He said: “I don’t do adverts. “If you ever see one with my face or name on it, it is without my permission, and usually a scam.
“Sadly we’ve already heard of people who’ve lost over £20,000 saying ‘I only pursued it because I thought it was recommended by Martin’.
“The thought of that makes me feel physically sick.”
Action Fraud warns that these fraudulent websites are also misusing images and fabricating recommendations from the investors on Dragons Den.
These adverts also claim the investors on the panel trade in cryptocurrencies using their services to try and legitimise their company.
The public is urged to be aware that professional-looking websites, adverts or social media posts do not indicate that an investment opportunity is genuine.
Criminals can exploit the names of well-known brands or individuals to make their scams appear legitimate.
For more information on staying safe online visit cyberaware.gov.uk