Group Warns of Sophisticated Private Investor Scam | Money

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Consumers are being warned of a spate of new, sophisticated scams by organized crime groups that are usurping the identity of credible investment firms and offering attractive rates to savers starved by the Covid-19 crisis.The Investment Association, which represents 250 fund managers with £ 7.7 billion under management, said organized criminals had already stolen £ 4 million from private investors by cloning popular brands and peddling false documents and products, in particular investment obligations. Some products were promoted through fake price comparison websites, while other victims were lured by links found on Google and Facebook.

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