North East constabulary advises on investment fraud

In a recent warning, crime reduction officer for the North East Division, PC Mike Urquhart, advised UK consumers on the pitfalls of investment scams.

He commented that like most of the country, the UK’s northeast had seen a considerable increase in investment scams, especially during the pandemic. With more people operating online, he added that criminals had followed suit and were now launching sophisticated attacks designed to part people from their personal funds.

The officer commented that the northeast of England was traditionally affluent and that many schemes commonly targeted middle-aged individuals in possession of disposable incomes and hunting for new investment opportunities.

The recent warning detailed how fraudsters put effort into appearing convincing and trustworthy, often mimicking legitimate company branding and websites to fool their victims. A commonly used tactic is to pretend to be investment experts or claim that they operate with regulatory supervision.

The advisory also stated that criminals often state that they already have a wealth of investors on board and even use fake endorsements supposedly from well-known celebrities to encourage targets to take part. However, the most common denominator in all schemes is reportedly that investors will enjoy above-average returns on their initial investments with little to no risk.

UK savers keen to sidestep the perils of fraud often accept investment advice in Chester, Stoke-on-Trent, and other parts of the country from wealth managers. Informed on the latest schemes and scams, wealth managers can assess investments offered for any risk to consumers, ensuring they are never parted from their savings.

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