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UK Banks Report £221 Million in Investment Scams Linked to Social Media
(4 hours ago) · 1 source · Summarized by CryptoBipto
Reports indicate that investment scams facilitated through social media platforms have cost UK victims approximately £221 million. Banks and financial institutions have flagged the growing scale of fraud, with crypto-related platforms among those cited in connection with scam activity.
WHY IT MATTERS
Investment scams are schemes where fraudsters trick people into sending money by promising big returns that never materialize.
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SOURCES
- beincrypto.com
RELATED
Investment ScamsSocial Media FraudUK RegulationConsumer Protection