We submitted a Freedom of Information request to the police and action fraud to find out the true losses of how bad reported investing and financial scams have become on Facebook, TikTok, Instagram, LinkedIn, Twitter and Youtube. What is terrifying about this is, that it’s not just scammy and spammy posts by individuals, it’s adverts […]
UK Investors Lose £75 Million To Financial Scams On Social Media Read More »
J.P. Morgan’s UK banking arm Chase UK will stop its customers from buying cryptocurrencies from next month. Chase UK will stop its customers buying cryptocurrencies in the UK next month as it looks to clamp down on the number of criminals that are using digital assets to target bank customers. Chase Bank UK to ban cryptocurrency
Another blow for cryptocurrency as Chase Bank UK bans crypto payments because of scams Read More »
It’s good to see the FCA finally showing their teeth and doing something about investing and trading scams on social media. Especially as Instagram has now been usurped by TikTok as the latest playground for investment scammers. I didn’t quite realise how bad it was until we started doing some social media ourselves. Until recently
TikTok is the new haven for forex, bitcoin and investment scammers Read More »
The FCA’s InvestSmart will aim to provide information for this new breed of young investors who are being encouraged to take on high-risk investments. A new survey from the FCA finds that hype and a desire to outshine their peers are driving young investors to look for more high-risk options. The finding comes as the
FCA’s InvestSmart aims to stop new investors being scammed by social media Read More »
It’s certainly a step in the right direction but the FCA’s decision to ban cryptocurrency CFDs doesn’t go far enough to stop scammers. Britain’s financial regulator has had cryptocurrencies in its sights for years. Finally it has pulled the trigger. While it’s no misfire, the FCA’s shot is all but certain to miss its mark.
The FCAs ban on Cryptocurrency derivatives won’t stop scammers Read More »
Scammers have cloned the FCA Register on www.register-fca.org. Whenever we talk about financial investment scams, and we talk about them a lot, one of the ways we always highlight as a good way to check to see if a company is legitimate is to search for them on the FCA register. However, scammers have cloned
FCA Register Cloned By Scammers Read More »
We talk endlessly about CFD (contracts for difference) scams and how to avoid them. We’ve done surveys on what people do when they spot fake investment ads online, written guides about how to avoid getting hoodwinked by commission-driven advisory brokers, explained that trading educators are best avoided, yet still investors are being lured into offshore
CFD Scams – What are they and how to spot them Read More »
For a while now, scammers have been targetting the national press through fake news, unwitting journalists and press releases. This is perhaps the most dangerous type of scam as one assumes that journalistic articles in the national press as properly fact-checked and research. In a recent Good Money Guide survey we did through YouGov on
Social media influencers are the least trusted to advertise financial products, with only 3% of those surveyed saying they trusted them. This is a relief because the majority of people on social media don’t have a clue about complex financial products and most are Instagram scammers anyway. It was refreshing to note that when The
Scam Financial Advertising & Promotion Statistics (2020) Read More »
A reader has asked: Which forex brokers offer a welcome bonus and won’t scam me? The quick answer is this, none. No decent broker will offer you a welcome bonus for signing up. If they are it is likely a scam so stay well away from them. Why are welcome bonuses in forex trading a
Which forex brokers offer a welcome bonus and won’t scam me? Read More »