The UK is banning cold callers from selling financial products in a bid to crackdown on scams. The blanket ban – which covers unsolicited calls offering any financial product – also extends to legitimate schemes and investments.
Reports of investment scams have risen by almost 200% in just five years according to the Financial Conduct Authority (FCA). And the good news is that a staggering £2 million was saved by investors in 2022, as they informed the FCA about a suspected scam before money was lost.
Santander has warned that cryptocurrency is being used to trick people into investing in fraudulent investment scams.
As lawyers, we are not able to advise clients on any type of financial investment, including cryptocurrency, but we advise people to be wary.
NFTs have exploded in popularity over the last few years. In particular, celebrities, have purchased NFT cartoon apes and video clips. As well as being used for gaming purposes and bragging rights, NFTs are also increasingly being seen as investment assets. But should you purchase an NFT as an investment?
Mark Kenkre, Partner and Head of the Investment Fraud and Mis-Selling Team, and Lesley-Ann Ainsworth, Senior Associate, explore the surge in group actions relating to
Mark Kenkre, Partner and Head of the Investment Fraud and Mis-Selling Team and Ben Rees, Technical Director, discuss the unregulated NFT marketplace, in Fraud Intelligence.
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