Understanding investment scams

Usually on social media like Snapchat, Instagram or TikTok, fraudsters will try to convince you to make an investment by promising really high returns.

They’ll often pressure you to make these payments by saying it’s “a limited time deal” or a “special price.” Sometimes they’ll even use fake celebrity endorsements to make the investment seem more trustworthy.

But legitimate investments don’t happen on social media and will never guarantee profits.

Don’t let anyone rush or pressure you into investing, especially significant amounts of money.

If you’re looking to make an investment, make sure you do your research – even if the recommendation is from a close friend or family member. Check if a company’s registered with The FCA (https://register.fca.org.uk/s/) before investing, and don’t invest if they aren’t.

Seek independent advice from a registered financial adviser, who can help you grow your money through legitimate investments.

Remember, if it sounds too good to be true… it probably is.

For more advice on how to keep safe from fraud, we’ve partnered with Take Five. An industry campaign that provides information on how to keep safe from fraudsters. https://www.takefive-stopfraud.org.uk/

If you've been tricked by a fraudster into sending them money, please chat to us in the app so we can help: