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Spotting scams
Cryptocurrency scams
What is a cryptocurrency scam?
These tend to take place via cold calls or adverts on social media - often using the images of celebrities or well-known individuals to promote them. The ads then link to professional-looking websites and customers are persuaded to make investments with the firm using cryptocurrencies or traditional currencies.
Steps to protect yourself
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01
Always question whether the website, social media posts or advert is legitimate. Scammers will use well-known brands or celebrities to convince you that a scam is real.
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02
Fraudsters will try and rush or pressure you to make an investment in cryptocurrency. If you're promised good returns only if you invest quickly, always be wary.
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Be cautious if you receive unexpected calls or messages about investments. Always do in-depth research before making an investment decision.
How to report fraud
If you've been the victim of fraud, please tell us straight away if you've given any details out or think you may be the victim of fraud or a scam.
Identity theft
Identity theft is when a fraudster steals your personal information to impersonate you, open accounts, obtain credit or set up businesses.
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Pension scams
A fraudster encouraging someone with access to their pension to move funds, where the money may be lost or unreasonably charged.
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Impersonation fraud
Criminals pretend to be a trusted organisation, may say your account is at risk and ask you to move your money to a ‘safe account’.
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Information about our cryptocurrency payment limits
We know that customers investing their money in cryptocurrency has become extremely
popular. However, we’re also aware of the increasing risk posed by fraudsters exploiting this trend to dupe customers out of millions of pounds per month. As such, we’ve decided to take proportionate action by introducing cryptocurrency limits to keep our customers safe and secure.