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

Complaints triple in past year

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The public should be “suspicious of adverts which promise high returns from online trading platforms", the FCA has warned
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The public should be “suspicious of adverts which promise high returns from online trading platforms", the FCA has warned

Losses as a result of "get rich quick" crypto-asset and forex scams exceeded £27m during the 2018/19 financial year, with the number of investors reporting fraud tripling on the previous year's figures.

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...

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