Fraudulent investments are being advertised on social media and Action Fraud, the reporting watchdog, says a shocking £3,168,464 was lost to scammers between October 2018 and February 2019. On average, each victim lost a total of £8,900 per person.

Action Fraud want to warn the public about investments being used on social media, especially Instagram. They say young people, aged between 20 and 30 are most likely to be targeted and fall victim. Fraudsters are advertising ‘Get Rich Quick’ investment schemes, promising a high return within 24 hours. They have been asking victims for a initial £600 investment, which they … Read more