Overconfident UK investors fall prey to fraud

A national campaign has been launched to warn UK investors they risk falling victim to thousands of pounds worth of fraud if they fail to take simple steps to check who they’re investing with.

The campaign, led by Action Fraud, the national fraud and internet crime reporting centre estimates that £1.2 billion is lost nationally to investment fraud every year.

Figures collected as part of the nationwide campaign show that almost half (49%) of the men surveyed aged 36+ (a group most likely to have made investments) admit to having given out personal details before checking the credentials of the person who contacted them, and only 57% think they can tell frauds from genuine offers.

Action Fraud has teamed up with industry bodies including Financial Fraud Action UK, representing the banks and wider financial services sector, and regulators including the Financial Services Authority to raise awareness amongst those at greatest risk of falling victim to fraud.