Fraud and Scams

The list below is a collection of articles that refer to, mention or discuss Fraud and Scams.

Builders Scamming Online Find-A-Trader Sites

Unscrupulous builders are scamming online find-a-trader platforms by bribing customers to post fake reviews, a web site owner claims. Even though thousands of home owners rely on honest review sites when making a choice about which tradesmen to hire, customers are offered cash discounts to post favourable reviews of their work. The revelation comes from … Read more

Is Onecoin A $4 Billion Scam Or A Real Cryptocurrency?

onecoin

Digital currency OneCoin is in a mess with thousands of investors locked out of their money and the scheme’s founder on the run from US authorities accused of running a pyramid scam. Police and regulators reckon OneCoin has raised £4 billion from tens of thousands of investors around the world. Founder Ruja Ignatova argues OneCoin … Read more

Police Tackle Record Number Of Investment Frauds

Fraud investigators are bracing themselves for a record number of claims as thousands of investors are losing money to scammers. More than 8,000 frauds have been received by the police’s National Fraud Intelligence Bureau this year already. But one of the NFIB’s main tools for collecting data – the Action Fraud web site – was … Read more

Pension Scam Cold Call Ban May Have To Wait Until 2020

cold callers

Pension scammers cold-call eight people every second, but the government may not have laws in place to stop them until 2020, a minister has revealed. Around 250 million cold calls are made every year, with 11 million retirement savers receiving calls since April 2015, according to official figures from the Money Advice Service. Fraudsters are … Read more

Scam Alert As Fraudsters Blitz UK Taxpayers

scam

Taxpayers can expect to be hit by a slew of scam messages purporting to offer refunds over the coming weeks. HM Revenue & Customs warns that the scammers tend to hit every spring because they know tens of thousands of taxpayers are sent their self-assessment refunds at this time of year. Investigators expect taxpayers to pick … Read more

Categories Tax

Binary Options Banned As Regulators Fear Scams

Consumer watchdogs have placed a permanent ban on gambling on binary options in the UK. The Financial Conduct Authority ban starts from April 2, 2019 and applies to anyone selling, marketing or distributing binary options to customers in the country. Binary options are a simple ‘yes/no’ bet on the movement of an investment. The potential … Read more

Cryptojacking Detections Soar By 450%

Cryptojacking has increased by more than 450% this year and shows no sign of slowing down, according to new research. Cryptojacking is when a remote computer illicitly takes control of a device and harnesses the processor power to mine cryptocurrency. The Cyber Threat Alliance (CTA) says detections of malware have increased by 459% in 2018. … Read more

Fine Art Scam Shut By Courts After Brush With The Law

Two companies involved in a £1.4 million fraudulent art investment have been closed after a brush with the law. After a flood of complaints, Halifax Mannin Ltd, based in Trawsfynydd, Wales, and Hey Design Services Ltd, of Kingstanding, Birmingham, were wound-up in the public interest at the High Court, Manchester. The court closed the companies … Read more

Fraudster Treated Charity Pension As A Personal Piggy Bank

Pension trustee Roger Bessent boosted his own finances by treating other people’s retirement savings as his personal piggy bank, a court heard. Bessent siphoned nearly £300,000 from pensions he was running to fund his business and buy to let investments. He covered his tracks with false records alleging other trustees had agreed the spending – … Read more

Binary Options Odds Stacked Against Winners

Financial watchdogs are concerned that many firms offering binary options are scams and that the odds of winning are stacked against investors. As a result, the Financial Conduct Authority is stepping in to take over regulation of the market to crack down on the crooks and make trading fairer for speculators. From January 3, 2018, … Read more