UK traders lost over $34 mln to scammers in 2018 alone

Discussion in 'Wall St. News' started by mlawson71, Jun 17, 2019.

  1. Retail investors in the UK have lost more than 34 million USD to forex and crypto scams in 2018 alone, reveals the latest report, published by the Financial Conduct Authority (FCA).

    Still, the data, gathered by Action Fraud shows a positive trend – individual loss due to scams decreased from 76 000 USD to 18 500 USD while total losses fell from over 48 million USD in 2017.

    The total number of reported scams, however more than tripled to reach to 1834, where over a fifth are connected to crypto scams.
  2. zdreg


    17K is peanuts. the trend is good.
    Last edited: Jun 17, 2019
  3. Nighthawk


    A lousy $34 Million? One month of profits....
  4. Still, scammers shouldn't get away with this.