The Financial Services and Markets Authority (FSMA) is running an awareness and prevention campaign on investment and credit fraud. The FSMA is receiving more and more reports of fraud (1,555 in 2020, a growth of 50% compared to 2018).

One of the campaign films is about cryptocurrency fraud. Scammers contact their potential victims by phone, email or via social networks, promising them much higher earnings than in the traditional channels. FSMA gives 5 tips to protect yourself:

1. Check the identity of the person you are contacting.
2. Spot scammers who impersonate authorised companies.
3. Be careful if the website is very new.
4. Be wary if the person you are talking to asks you to pay money into a bank account in a country other than their headquarters.
5. If it's too good to be true, it's not!

Find out how to spot investment fraud.