PSNI warning after person lost £350K in cryptocurrency scam

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PSNI warning after person lost £350K in cryptocurrency scam
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'For some who lose money to scammers, the loss can be tens of thousands and, in some cases, hundreds of thousands of pounds'

Since the start of the year, 5,600 reports of attempted scams and scams were made to the PSNI, it has been confirmed.

Chief Superintendent Pollock said: "We should never lose sight of the fact that behind every loss, no matter what it has been, is a person or a business owner who has been taken advantage of in the most despicable and callous way. In some cases, the impact of the scam has life-long consequences."The biggest amount of money we have seen lost this year has been a person who lost £350,000 as a result of a cryptocurrency investment scam.

The PSNI believes there is "rising awareness of frauds among the public and that’s driving some of the reporting and we see this in that around 60% of the reports we receive do not involve any financial loss". "From 2011-12, there has been a significant increase in the amount of fraud reported, from around 1,400 offences being reported to The Police Service in 2011-12 up to around 5,300 in the last financial year, 2021-22. For some who lose money to scammers, the loss can be tens of thousands and, in some cases, hundreds of thousands of pounds.

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