Investors lose £27m to 'get rich quick' crypto and forex scams in 2018/19

Data from the Financial Conduct Authority (FCA) has revealed that, of the 1,800 complaints it received over the last financial year, victims lost on average upwards of £14,600. Crypto and forex fraudsters often target potential victims for the so-called "get rich quick" schemes using social media, posting fake celebrity endorsements and images of luxury items like expensive watches and cars, the FCA explained. FCA: 'Get rich quick' crypto investors do not understand the asset Victims will be lured by professional-looking websites and then be led to believe that their first investme...