Warning: Beware of Investment Scams Endorsed by Celebrities
Rise in Investment Scams
The British public has recently been warned about the increase in investment scams that are being falsely endorsed by celebrities. The National Cyber Security Centre (NCSC), a GCHQ body, has taken down over 300,000 URLs related to these scams. These fraudulent schemes often take the form of emails or online ads disguised as news articles featuring well-known personalities such as Richard Branson, Ed Sheeran, and Martin Lewis.
How the Scams Work
These deceptive emails and ads lead unsuspecting victims to click on hoax websites promising quick and easy money-making opportunities. However, instead of earning profits, any funds sent by the victims end up lining the pockets of the fraudsters behind the scam. The NCSC has been actively working to remove these malicious URLs through its Active Cyber Defense program and encourages the public to report any suspicious emails or ads through its Suspicious Email Reporting Service (SERS).
Success of SERS
Since its launch in April, SERS has received 1.8 million reports from the public, resulting in the blocking or takedown of over 16,800 malicious URLs. More than half of these URLs were associated with cryptocurrency investment scams. NCSC CEO, Ciaran Martin, emphasized the importance of public awareness and vigilance in identifying and reporting such scams.
Stay Cautious Online
Commander Clinton Blackburn of the City of London police advised users to exercise caution when encountering suspicious online offers. In case of falling victim to fraud, individuals are urged to report it to the national reporting center, Action Fraud.
Recent Scam Incidents
In a related incident, scammers hijacked the Twitter accounts of prominent celebrities and politicians in July to promote a cryptocurrency scam, reportedly making $100,000 before being shut down. The US has indicted three alleged perpetrators, one of whom resides in Bognor Regis, UK.
It is crucial for the public to remain vigilant and report any suspicious activities to the relevant authorities to combat these fraudulent schemes effectively.