Posts Tagged ‘unregulated investment scam’
Victims of Investment Scam Receive £2 Million Compensation
Not all superhero’s wear capes. One such tale revolves around John Gerard Metcalfe, from Essex whose actions led to a £2 million loss for several individuals. Metcalfe’s fraudulent investment scam ultimately brought him to bankruptcy and legal action in 2013. However, justice has a way of catching up, and in 2017, he was convicted of…
Read MoreFCA and FSCS: “Investors should do more due diligence”
A survey by the Financial Services Compensation Scheme (FSCS) and Financial Conduct Authority (FCA) found that many investors avoid doing due diligence because they found the process “complicated” and “time consuming.” According to the results of the study, 42% of Britons aged 18 to 24, who have money in investments, claim their latest investment was…
Read MoreSister and brother charged with £100m crypto scam
Earlier this month, US authorities exposed another reason why you should be cautious of crypto-opportunities following the arrest of two siblings charged with of using a crypto scam to defraud investors out of $124 million (around £95m). Although we have recently posted several blogs on crypto scams, this story deserves coverage for two reasons: Between…
Read MoreFCA targets unregulated investment scammers
The Financial Conduct Authority (FCA), which regulates financial companies providing services to consumers, announced plans to increase preventative action against potential consumer scammers. Apparently, the FCA stopped one in every four bogus companies from entering the market in 2021. The figure had been one in five in 2020. While these statistics are reassuring, punishing unregulated…
Read MoreHow to avoid social media scams
An increasing number of people are being duped into investing in social media scams. According to the US-based Federal Trade Commission, social media was “…far more profitable to scammers in 2021 than any other method of reaching people.” When you think about it, social media is a scammer’s dream. They have access to the same…
Read MoreUnregulated Investments- How To Make Choices
There are many companies out there claiming to offer investors glorious returns, the dream scenario. They lure you in with promises and assurances that you’ll get far more investing with them than with banks. While that may be true on occasion, often these investment opportunities are unregulated. What is an unregulated investment? A business must…
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