FCA: Forex, Crypto Scams Cost Brits £27 Million Last Year

According to FCA’s report, brits lost approximately £27 million ($34.4 million) to foreign Exchange and cryptocurrency-related scams in the 2018/2019. Authorities received 1,834 scam reports last year, but the FCA did not reveal what the makeup of those scams was. The FCA said that the average scam victim lost approximately £14,600 ($18,600).

Most of the scams worked by attracting customers through social media sites, the financial watchdog added. This posting on Instagram or Twitter will encourage people to get rich quick by trading through their affiliate sites.

This scammers can be very convincing. You should always do your own research into any firmy ou are cindifering investing with.

The British regulator is going to launch new campaign ScamSmart to prevent fraudulent activity. This compaign will takes place on different social media platforms and in conjunction with Action Fraud. Action Fraud is a division of the UK’s police force working on tackling fraud.


  1. From my previous experience its not that easy to get back a stolen bitcoin because these scammers are very smart and they will cover their tracks but if you manage to find a trustworthy and reliable Recovery company, I said trustworthy and reliable because many scammers are out there disguising as Recovery agents and will only take your money without recovering your bitcoin, I was a victim of such myself after loosing my bitcoin to an investment scam I sort for help and I met few recovery agents and was scammed by a particular one again. Luckily for me I was referred to a company on telegram. You can send a complaint mail to fightingscams(@)AOL{.}com, he should be able to help you. They Recovered my stolen bitcoin after risking a token to their Recovery program. It was worth it at the end


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