Nottinghamshire victims lost huge sums of money in ‘get rich quick’ schemes

Nottinghamshire Police has received dozens of reports of people falling victim to advance fee fraud, where scammers promise an individual something valuable in return for paying a specified amount of money upfront.

When the target pays, there may be a series of further fees demanded, or the fraudster will simply disappear – leaving the victim thousands of pounds out of pocket.

New data reveals 41 cases were reported to Nottinghamshire Police in July, significantly higher than May and June, when 30 and 28 cases were reported respectively.

In one case, a woman in her 60s was conned out of £24,000 in an online cryptocurrency scam. The victim told officers she clicked on an advert for a bitcoin investment scheme that appeared to be promoted by financial journalist and broadcaster Martin Lewis.

After entering her details, she was immediately called by someone who said she would be put in touch with a financial advisor who would do the work for her. She was told there would be a £250 fee for the advisor's work, which she paid.

She then invested various sums of money and downloaded an app to see how much profit she was making. But in reality, her balance was empty and she had merely been looking at the rates for various cryptocurrencies.

In another fraud, an elderly couple paid £56,000 over a period of seven months, also believing they were investing in bitcoins. But again, it was a scam, which the couple said they had fallen for because the person on the end of the phone had been “very polite and persuasive”.

In a third case, a vulnerable female was almost defrauded out of £70,000 in similar circumstances. Thankfully, this was stopped by her bank after it correctly invoked a banking protocol.

Detective Sergeant Tara Clapperton, of Nottinghamshire Police’s fraud team, said: “Investment fraud is prevalent across the UK and is sadly destroying many lives.

“With the cost-of-living crisis still at the forefront of everyone’s minds, there is the potential more people will fall victim to this devastating type of fraud as they try to find a way to get quick financial returns to help pay the bills.

“While criminals are now using social media to target people with fake investment opportunities, the ‘typical’ cold calling tactics also haven’t gone away, so we must not be complacent and remain alert to these types of approach.

“If you’re contacted by anyone not known to you and unexpectedly asking you to invest or to send them money, you should treat it with caution. Don’t be pushed or rushed into anything you are not sure of and remember, if it is too good to be true, then it probably is.

“Always be on your guard and take time to do your research thoroughly before deciding to invest any amount of money. If it sounds too good to be true, it probably is. Follow the Take Five to Stop Fraud advice as it will help protect you and your money.”