Investors lose £78m as lockdown sees 'clone fraud' surge

Spike during first lockdown

Clone fraud shot up during the first lockdown and totalled £78m last year - FCA and Action Fraud
Clone fraud shot up during the first lockdown and totalled £78m last year - FCA and Action Fraud
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Clone fraud victims lost £78m to scammers pretending to be legitimate financial services businesses in 2020 with reports to authorities rocketing during the first national lockdown, Action Fraud data revealed.

On average people lost more than £45,000 to online fraudsters, according to the data which also showed reports of cloned firms increased almost 30% from April to March last year as scammers took advantage...

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