UK’s Financial Conduct Authority (FCA) reported that local investors lost over £27 million to scams involving crypto and forex investments last financial year. The FCA and Action Fraud are warning the public to be wary of such investment frauds which are often promoted as ‘get rich quick’ platforms in social media.
Furthermore, the authorities’ reports show that the average scam victim lost approximately £14,600, and that scams reports more than tripled last year to over 1,800.
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