Fraudsters are conning people out of their life savings and using investment opportunities as bait. So far this year, scammers have pocketed £118 million, with the average victim losing £36,250 per fraud.
Fraud now accounts for more than a third (39 percent) of all crime according to figures from the Crime Survey for England and Wales (CSEW) for 2021.
While scams come in all forms, crypto criminals have seen their profits almost double over the last year to £226million, according to NordVPN.
Marijus Briedis, chief technology officer and digital privacy expert at NordVPN, said: “With inflation skyrocketing and traditional savings rates failing to keep up, bogus crypto investment schemes offering the prospect for high returns are the perfect bait for scammers.
“These frauds are thriving, despite the huge crash in Bitcoin and other currencies.”
READ MORE: Why haven’t I received the first cost of living payment?
She said: “Fraudsters are always on the lookout for new ways to trick victims out of their hard-earned cash, and with designer trainers amongst the latest must-have items being targeted, the criminals are ready to hotfoot it away as soon as they have their hands on your money.
“Purchase scams come in all shapes and sizes, but the vast majority start with items advertised on social media, where it’s all too easy for fraudsters to use fake profiles and advertise items that don’t exist.
“When shopping online, the best way to keep safe is to buy from a trusted…
