UK 89,525 Victims Lost $3.2 Billion to Investment Fraud Over 4 Years from 2020 to 2023, Top Fraud is Boiler Room Fraud with 20,789 Victims Losing $699 Million, Boiler Room Victims Invested via Fake Stockbrokers over Phone to Buy Worthless or Non-Existent Securities, 2nd Most Popular Fraud is Ponzi or Pyramid Schemes with 12,323 Victims Losing $630 Million
4th April 2024 | Hong Kong
In United Kingdom (UK), 89,525 victims lost $3.2 billion to investment fraud over 4 years from 2020 to 2023. The top investment fraud is boiler room fraud with 20,789 victims losing $699 million, where boiler room victims invested via fake stockbrokers over phone to buy worthless or non-existent securities. The 2nd most popular investment fraud is Ponzi or Pyramid schemes with 12,323 victims losing $630 million. Robert Wakefield, President of the Pensions Management Institute: “Our research shows that a shocking number of people are falling victim to investment fraud. It is concerning that every year thousands of people are losing millions of pounds to financial scams in the UK. The number and sophistication of investment scams is ever-growing. By maintaining a healthy dose of scepticism and training yourself to spot some common red flags, you may be able to protect yourself and your loved ones from becoming victims. Increasing the amount of financial education provided in schools could also help to make people more aware of the risks of investment scams.” The study is conducted by the Pensions Management Institute (PMI) and data from City of London Police’s National Fraud Intelligence Bureau.
“ UK 89,525 Victims Lost $3.2 Billion to Investment Fraud Over 4 Years from 2020 to 2023, Top Fraud is Boiler Room Fraud with 20,789 Victims Losing $699 Million, Boiler Room Victims Invested via Fake Stockbrokers over Phone to Buy Worthless or Non-Existent Securities, 2nd Most Popular Fraud is Ponzi or Pyramid Schemes with 12,323 Victims Losing $630 Million “
UK 89,525 Victims Lost $3.2 Billion to Investment Fraud Over 4 Years from 2020 to 2023, Top Fraud is Boiler Room Fraud with 20,789 Victims Losing $699 Million, Boiler Room Victims Invested via Fake Stockbrokers over Phone to Buy Worthless or Non-Existent Securities, 2nd Most Popular Fraud is Ponzi or Pyramid Schemes with 12,323 Victims Losing $630 Million
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