Action Fraud figures show that victims of investment fraud lost at least £657m in 2020, as scammers preyed on financial vulnerability caused by the coronavirus pandemic.
There are different types of investment fraud, the most common involve shares, bonds, cryptocurrency and commodities such as wine, fine art and diamonds. Fraudsters contact you unexpectedly, promise generous returns and may say that the opportunity is time limited. They downplay the risks to your money. They call you repeatedly and keep you on the phone a long time in order to build your trust, stop you speaking to other people or having time to think about the offer. FULL ARTICLE
Report all scams online to www.actionfraud.police.uk or call 0300 123 2040 giving as much information as possible.
Financial education and literacy is not taught in schools, which is why most people are in the dark when it comes to personal finance and are forced to rely on financial advisers.
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