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Holly Willoughby, Philip Schofield and Martin Lewis exploited as Brits lose thousands in celebrity crypto scam

Data from Natvest shows how scammers used photos of familiar famous faces to promote dodgy crypto investments.

This Morning hosts Holly Willoughby and Philip Schofield have topped the list of biggest celebrity losses from ad fraud, falling for a fake cryptocurrency investment scheme in which one unsuspecting social media user saw the pair in a Facebook ad and transferred more than 370 £000 in their opinion was a real investment.

Money Saving Expert founder Martin Lewis was also involved in the fake ‘Bitcoin Evolution’ scam in which another user was tricked into handing over £317,000.

NatWest fraud expert Stuart Skinner said: “Fraud is on the rise in the UK… knowing that criminals are using celebrity images means we can all take steps to protect ourselves.

“If you’ve seen an ad promising big profits, high returns and/or offering to help you invest in cryptocurrency, it’s most likely a scam – if it sounds too good to be true, it usually is.”

In 2018, Martin Lewis said he was suing Facebook after he said more than 50 ads appeared on the social media platform featuring his face and saying he had invested £250,000 in a certain company .

According to research by trade association UK Finance, criminals stole more than £1.3 billion in 2021 through authorized and unauthorized fraud. Criminals took advantage of online shoppers looking for discounted items on social media. £1.4billion missed out on fraudsters.

UK Economic Crime MD Cathy Vorobetz said: “The main online platforms – search engines, social networks and shopping platforms – are the gateway to almost all online activity and should create a barrier to fraud, while not a channel.”

Holly Willoughby, Philip Schofield and Martin Lewis exploited as Brits lose thousands in celebrity crypto scam

Source link Holly Willoughby, Philip Schofield and Martin Lewis exploited as Brits lose thousands in celebrity crypto scam

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