Six scams to be aware of Victims have lost more than £63 million to investment scams posted on social media, police have said. Figures released by the City of London Police showed the value of the number of reported investment frauds where victims referred to an online platform. Some were lured in with direct messages, while others saw the scams advertised. Superintendent Sanjay Andersen, from the City of London Police s National Fraud Intelligence Bureau, said: Reports of investment fraud have increased significantly since the start of the coronavirus pandemic, which is unsurprising when you think the vast majority of us have had to conduct nearly every aspect of our lives on a computer or mobile phone.
The public body advised people to report incidents to them or Citizens Advice. A spokesman said: “We have had reports of two males cold calling in the South Lakes and Barrow area offering landscaping services and interested in buying caravans, campers and 4x4’s. “As always please be cautious when approached on your doorstep by callers or traders who you don’t know. “If you have agreed a contract you should be given a written 14 day cooling off period. “Please look out for your vulnerable family, friends and neighbours and report incidents to us on 0808 223.” Trading Standards use the information given to them to investigate unfair trading and illegal business activity, like rogue traders and scams.