Police in northern UK have revealed that businesses lost a staggering £1.2 million to investment scammers in just two months — £612,000 in March and £690,000 in April. The ScamwiseNI Partnership and local police forces issued urgent warnings after noticing a sharp rise in investment fraud targeting business owners and entrepreneurs.
How the Scams Work
Chief Superintendent Gerard Pollock of ScamwiseNI explained that most scams start with what appear to be small, low-risk investment offers. Scammers use emails, text messages, and social media to build trust before presenting increasingly large "opportunities." Common types include cryptocurrency investment scams, fake bond or ISA products, and manipulated trading platforms that show false profits before blocking withdrawals.
Five Rules to Avoid Investment Scams
- Never respond to an unsolicited investment offer from an unknown contact.
- Never click suspicious links in texts or emails from strangers.
- Never transfer funds to an account you cannot fully verify.
- Always check the FCA register before investing with any financial firm.
- If it sounds too good to miss, it is almost certainly a scam.
Anyone who has lost money to an investment scam is urged to report to Action Fraud immediately and to contact a specialist recovery service for advice.
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