UK Regulator Updates Crypto Scams Warning
Cryptovest
Published Aug 20, 2018 07:23AM ET
Updated Aug 20, 2018 08:41AM ET
UK Regulator Updates Crypto Scams Warning
The UK Financial Conduct Authority (FCA) has updated and re-published its warning on cryptocurrency-related scams, noting that it has been getting a rising number of complaints in recent months.
According to the publication , instances of fraud sometimes involve FCA-regulated activities, for example, offering investment products with cryptocurrencies as an underlying asset. In most cases, however, the scammers use similar tactics and advertise mainly on social media. The ads lead to professional-looking websites that may appear legit to some investors, who are then convinced to invest either in fiat currencies or cryptocurrencies.
The FCA also notes that crypto fraudsters often use the images of celebrities or well-known individua...
This article appeared first on Cryptovest
Get The News You Want
Written By: Cryptovest
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.