Bitcoin scam and other scams reported by Warwickshire residents

Bitcoin fraud is among the most recent scams in Warwickshire that have been exposed by Trade Standards officers. They revealed a list of all the calls they received from the concerned residents.

With this said, they issued some advice for people to be on guard so as not to fall victim to them.

They have also given some important tips for residents to follow.

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The most recent scams the team has received reports of are:

fake bitcoin accounts

Warwickshire residents have reported scams related to creating bitcoin accounts.

Many legitimate businesses require copies of documents such as driver’s licenses to verify identity and help prevent money laundering. Unfortunately, fake companies often ask for the same information they use to commit identity fraud and money theft. Warwickshire residents have reported setting up Bitcoin and similar accounts and transferring money to them, only to be found out later to be fake.

In the UK, almost all financial services activities must be licensed by the Financial Conduct Authority (FCA). The Financial Conduct Authority (FCA) maintains a register of regulated companies and individuals as well as those they know may be carrying out intentional fraud, with prominent warnings. The Financial Conduct Authority (FCA) advises people to:

  • Always check that the company you are dealing with is on the registry.
  • Never give out your personal or financial information to unexpected callers.
  • Do your homework on the work you want to use before opening an account or transferring any money.

More tax refund complaints

Warwickshire Trade Standards has received more complaints from residents who have received unexpected letters from ‘tax’ firms. The letters indicate that the resident already has an established relationship with the company when he or she does not, that the work to complete the tax deduction application has already been completed and that the company charges a fee of approximately 50 percent.

The Commerce Standards emphasized that they wanted to educate the population that they should think twice before providing personal or financial information to any individual or company they contact unexpectedly.

“It can be difficult to distinguish a good dealer from a bad dealer in such circumstances, and residents are urged to do their homework first,” the Trade Standards Team said.

“The official government website is a good starting point for residents who request free information regarding tax refunds, tax credits, and related matters.”

fake text messages

Scammers send fake text messages to residents’ smartphones. The text messages claim to come from a friend or relative asking the recipient to pay a bill. Messages are sent from a different number, but the scammers say it’s because the phone is new or temporary due to “water damage”. The advice is not to respond to them or click on any links they may contain. Delete it immediately.

Fake companies on social media

Warwickshire Trade Standards says it is receiving more complaints from consumers who have not received the goods or services they have purchased from merchants who advertise on social media. Sometimes, these companies are completely fake.

Tips include:

  • Try to use online traders you know and trust. Look at their reviews and ask friends and family.
  • Beware of social media accounts that may have been created recently with a lot of positive comments that look the same, this could be an indication of fake reviews and a fake merchant
  • If you can, find out where the dealer is. Do they have a real landline address and phone number, or can you only contact them via social media message or via email? If so, beware!
  • Many fake websites advertise popular and hard-to-find products. But buy from fake website and you will only receive fake product or no product at all.
  • Always use a secure payment method to pay for goods or services. Never simply transfer money. For purchases over £100, consider using a credit card. In some cases, this gives you additional “Section 75” protection.
  • Do not enter your card details into a website unless it is secure. Look for the padlock tag and “https” in the web address.

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