In-depth guides on every type of UK financial scam written in plain English, updated monthly, and aligned with the latest FCA warnings.
The most common and costly type of fraud in the UK, costing consumers over £400 million last year
Investment scams involve fraudsters posing as brokers, advisors, or investment platforms to convince you to hand over money for fake or non-existent investments. They often create professional-looking websites and fake testimonials to appear legitimate.
"A fraudster used the real FCA registration number of a legitimate broker but operated a fake cloned website. Victims were shown realistic profit dashboards. When they tried to withdraw their £15,000 investments, they were told they had to pay a 'withdrawal tax' first another scam."
Cryptocurrency fraud cost UK consumers £306 million in 2024, and it's growing rapidly
Crypto scams exploit the complexity and anonymity of cryptocurrency. Because crypto transactions are largely irreversible, scammers favour it as a payment method. They range from fake exchanges and wallet drainers to "pig butchering" long-con romance-investment hybrids.
"A UK victim was befriended online by someone who gradually introduced them to crypto investing. Over 6 months, they invested £45,000, seeing their 'portfolio' grow to £200,000. When they tried to withdraw, they were told to pay £30,000 in 'taxes'. The entire platform was fake."
Advanced crypto scam tactics include wallet draining malware, NFT honeypot contracts, rug pulls, flash loan attacks, and DeFi protocol exploits. Understanding how each works gives you...
Unlock advanced crypto scam tactics, NFT fraud patterns, and DeFi exploit guides with a Premium membership.
Unlock Premium from £9.99/moUK victims lose an average of £12,000, and the emotional damage can be even greater
Romance scammers create fake online identities, often posing as attractive military personnel, engineers working abroad, or successful professionals. They invest weeks or months building emotional trust before making financial requests.
"A 58-year-old nurse met a 'US Army colonel' on Facebook. After 4 months of daily messages, he claimed he needed £8,000 for emergency medical treatment. She sent £6,000 before her daughter persuaded her to reverse image search his photos, which belonged to a random American man."
Targeting people in financial difficulty. Fraudsters promise loans that never arrive
Loan scammers target people with poor credit who are desperate for funds. They guarantee loan approval regardless of credit history, then ask for an upfront "insurance fee", "admin charge", or "security deposit" which they steal. The loan never arrives.
"A 23-year-old was contacted by text offering a £5,000 loan at low interest despite bad credit. They paid a £350 'insurance fee' as instructed. The loan never arrived. When they called back, the number was disconnected."
Fraudsters posing as banks, HMRC, the police, or trusted companies
Impersonation fraud involves criminals pretending to be from a trusted organisation such as your bank, HMRC, the police, Amazon, or even ScamCheck UK. They use caller ID spoofing, fake websites, and official-looking emails to deceive victims.
Fake emails, texts, and websites designed to steal your login credentials and personal data
Phishing (email) and smishing (SMS) scams use fake messages to trick you into clicking malicious links, entering passwords, or downloading malware. They impersonate well-known brands like Royal Mail, HMRC, Lloyds Bank, and Amazon.