While money scams have been around for a long time, investment fraud has been on the rise during the pandemic. In fact, research shows that the average victim of investment fraud lost £45,000 in 2020.
Now, reports are coming in that investment ISA scams are on the rise, adding a new layer of danger for those dipping their toes into the market.
Adam Speakman, head of fraud and investigations at Metro Bank explains, “There is always an element of risk in investment – but the risk should come from the movement in market conditions, not from being defrauded by criminals.”
How investment ISA scams work
Investment ISA scams are…