Santander Bank UK warns that celebrity-backed crypto scams could grow by up to 87% this year.
- Banco Santander warns of crypto-securities
- Says it can grow 87% this year, according to research
- The first quarter of 2022 already went up 87%.
There are many warnings that have emerged regarding the different methods of cryptocurrency scams. In fact, governments in several countries have already agreed on prevention campaigns on the methods of cheating . Now a major bank is doing it, specifically with one that is quite common and usually gets a lot of victims to fall for: crypto scams falsely “endorsed” by celebrities.
Santander Bank, UK headquarters, published a statement in which it shares important data on this type of scams, alerting the population that they are growing.
According to Santander data these are some of the data collected in an investigation:
– Average value of the con in Q1 2022: £11,872 (over $14,400 USD), up 65% year on year.
– 61% increase in caseload in the first quarter of 2022, relative to the last quarter of 2021.
– Based on current growth, the bank expects an 87% increase in case volume how much cryptocurrency has been traded over a set period, such as the past 24 hours. in 2022 compared to 2021.
Chris Ainsley, head of Fraud Risk Management at Santander UK, said: “We are seeing a worrying rise in ‘celebrity-backed’ cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. scams, where familiar faces are being misused on social media to con people out of large sums of money.” He adds that after being lured by the supposedly high returns promised, people lose significant sums after being duped by these highly sophisticated criminals. “ Always do your homework and thoroughly research any investment opportunity before moving any money, regardless of who is backing it.”
How the scam a scheme that is designed to dupe people out of cash or crypto. usually works:
1. The customer sees a celebrity advertising a cryptocurrency on social media, Google or even on reputable media sites, or another social media user presents you with a cryptocurrency investment opportunity. The celebrity seems to be backing the opportunity.
The customer clicks on a link and shares their contact information for more information.
3. They are then contacted by phone, email or social media and offered a high return on crypto investment with little to no risk. The scammer a scammer is someone that participates in a fraudulent scheme. will often employ high-pressure sales tactics.
4. Se les pide que descarguen un software specialized to help them open cryptocurrency accounts. This is remote access software that gives the scammer full access to the client’s computer.
5. The client a client is software that can access and process blockchain transactions on a local computer. A common application of this is a cryptocurrency software wallet. opens (often multiple) cryptocurrency accounts and deposits money into them.
6. The fraudster freezes access and takes over the customer’s account, preventing the customer from accessing their money.
Santander estudió un caso
In its press release, the bank publishes a sample case to keep its followers on their toes:
– Mr. G saw a Facebook post advertising a cryptocurrency investment opportunity, which was apparently endorsed by well-known English financial journalist Martin Lewis. Mr. G clicked on the link to register his interest and was then contacted by someone purporting to be his personal “account manager” on the cryptocurrency platform, who promised him high returns on his investment.
– Mr. G followed the advice of his “account manager” and opened a separate bank account an account is essentially a whose purpose is to track the financial activities of a specific asset/ and transferred money from his Santander account to the new account.
– He was then encouraged to allow his “account manager” to access his computer remotely to help him make payments from his newly opened bank account to his cryptocurrency wallet. Mr. G was able to see the money leaving his bank account and being credited to his cryptocurrency wallet, but he had no control over the wallet.
• The fraudster told Mr. G to lie to his bank about the reason for the payment. because his bank would not want him to invest investing is when you put money in a financial scheme with the intent of making a gain. in cryptocurrencies. As such, when Santander contacted Mr. G to verify payments to the new bank account, he followed the so-called advice of his “account manager” and provided a false reason as to the purpose of the payment.
– After receiving a series of follow-up calls from his “account manager” asking him to deposit more money into his account and talking to his family, he realized he was being scammed and contacted Santander to report it.
What to do?
Banco Santander tells its customers that if you think you have been a victim of a cryptocurrency scam, report it to your bank immediately.
Also, if you have downloaded software to supposedly help with the investment, turn off and unplug your computer and do not use it until you have removed the software and had it reviewed by a computer technician.
Si crees que ya has sido víctima de este tipo de estafa, denúncialo inmediatamente a tu banco.
How to protect yourself:
– A celebrity-backed investment in cryptoassets or crypto-related products does not mean that it is a genuine endorsement or a legitimate investment.
– Do not allow anyone to set up a cryptocurrency wallet, upload identification documents, or manage investments on your behalf remotely.
– Avoid unsolicited investment offers, whether made on social media or over the phone. If you are thinking of making an investment, research the company thoroughly first and consider getting independent advice.
– Don’t be fooled by pressurized sales with limited time scales and promises of too-good-to-be-true returns.
– Use the FCA website www.fca.org.uk to look up the company you’re buying cryptocurrencies from and verify that it’s a legitimate registered company, or a clone or fake. Then call them using the number on the FCA website when you set up a payment and every time you make a payment, even if you think you’re going to the same place.
– The FCA also has ScamSmart www.fca.org.uk/scamsmart an online tool to help you identify whether or not your investment is a scam. Answer four questions with multiple-choice drop-down menus and get a clear picture of your investment.
Sources: Santander Bank y archivo
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