Police warn of investment fraud in Shropshire

Scam letters

The West Mercia Police recently urged Shropshire residents to become ‘scam smart’ after figures revealed that close to 900 people fell victim to investment fraud in 2022. In its statement, the West Mercia Police commented that investment scams are becoming increasingly sophisticated, with many fraudsters possessing knowledge of the finance sector.

Officers added that scams in play are often supported by credible testimonials, materials and even dedicated websites, making them difficult to distinguish from authentic opportunities.

West Mercia Detective Constable Will Horton of the economic crime unit warned members of the public to stay vigilant, and offered advice:

“If you’re contacted out of the blue about an investment opportunity, the chances are it’s a high-risk investment or a scam. Criminals usually cold call but contact can also come by email, post, word of mouth or at a seminar or exhibition. Some scams are often advertised online too.”

He added that last year there were 897 victims of such scams in Shropshire, Herefordshire, and Worcestershire, stating that the criminal groups behind the schemes were well-funded, structured and ruthless, and should not be confused with comical con-artists often portrayed on television.

DC Horton advised residents to remember that they are in control and to never be coerced or rushed into making decisions.

UK consumers with concerns about the legitimacy of investment opportunities often seek out independent financial advice in Shropshire. IFAs like wealth managers have the expertise to assess investment schemes and determine if they are financial scams to save their clients any loss of funds.

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