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NatWest issues urgent warning to all customers about cryptocurrency scam UK News

NatWest customers who use the mobile app to manage their finances are warned about cryptocurrency scams.

The Main Street bank has said it has blocked millions of pounds from being sent to ‘crypto criminals’.

NatWest said it received a “record number” of reports of such scams between January and March 2021 and sent a message to mobile app users.

Scams typically involve criminals posting online advertisements bearing a fake celebrity endorsement on a fake website with an article promoting cryptocurrency.

Investors are asked to fill out a contact form and the criminal uses this information to follow up on a phone call.

During the call, the fraudster, posing as a cryptocurrency trader, helps the victim open a wallet with a cryptocurrency trading platform and in doing so, persuades the victim to install software remote access on his computer.

Jason Costain, Fraud Prevention Manager at NatWest, said: “We have prevented millions of pounds from being sent to crypto criminals who exploit the high levels of interest in the currency. However, consumers should always be on the lookout for using fake websites and celebrity mentions. ”

NatWest has shared a number of tips for avoiding a cryptocurrency scam:

– If you have been contacted by a “trader” promising you big profits and offering to help you invest in cryptocurrency, it is probably a scam.

– Always have control over your cryptocurrency wallet. If you haven’t set up the wallet yourself, or if a cryptocurrency trader has persuaded you to download remote access software to your computer, it could be a sign of a scam. You must immediately stop making payments.

– Follow the advice of the FCA and verify that the cryptocurrency company you are dealing with has been approved by them.

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Source: www.times-series.co.uk
This notice was published: 2021-05-29 06:00:00

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