What are the Common types of investment and/or bank transfer Frauds?
Updated: May 7, 2022
Overview of scams people most often come to Carlton Huxley Limited about.
The list is long, but the most common frauds that people come to Carlton Huxley Ltd about fall in to the following types:
Cryptocurrency Scams Cryptocurrency, or ‘crypto’ such as Bitcoin, is a digital currency that can be used to buy goods or services. While Bitcoin is the most well-known cryptocurrency, there are somewhere in the region of 1,500 cryptocurrencies available to invest in. This is not a area for the unknowing to venture into Unfortunately, many people fall prey to being targeted by fraudsters sell them fake cryptocurrency, take their money promising to invest in real cryptocurrency or getting them to transfer any real genuine crypto from the clients wallet to hold or invest. In all three cases the result is the same, the fraudster end up stealing the victim's money.
Forex / Binary / Trading Scams There is still a steady rise in these frauds. Unauthorised forex trader and brokerage firms allegedly licenced in various offshore jurisdictions offer people the chance to ‘trade’ in foreign exchange, binary options, crypto assets and other commodities. Unregulated Products There is a steady increase in people being convinced to move their money out of a normal traditional savings account or plan into unregulated products, about which the victim knows nothing about. We’ve had clients transfer their life savings to unauthorised firms selling a range of goods, including, but not limited to: • Gold • Diamonds • Graphene
• Fine Wines • Property • Land Pension liberation scams Regrettably there are so many people who get tricked by fraudsters into cashing out their pensions and other regulated investments and putting their money into unregulated schemes which turn out to be scams such as we have described.
However, people are frequently deceived into investing in overseas property and hotels; renewable energy bonds; forestry; parking and storage units to name a few, without doing any due diligence. Prevention is better than cure yet very few people think about getting things checked out before they part with their money, and so often it is just stolen, which can be devastatingly life-changing for victims who have worked hard and saved all their lives to build up their pension fund only to be convinced to give it away.