Police urge people to 'stay vigilant' as hundreds fall foul of investment fraud in Shropshire

West Mercia Police has issued the warning today, stating that investment scams are increasingly sophisticated, as fraudsters can be financially knowledgeable.

They say scams are often supported with credible websites, testimonials and materials that are hard to distinguish from the real thing.

Detective Constable Will Horton, from the West Mercia Police economic crime unit, has warned the public to remain vigilant.

He said: “If you’re contacted out of the blue about an investment opportunity, the chances are it’s a high-risk investment or a scam.

"Criminals usually cold-call but contact can also come by email, post, word of mouth or at a seminar or exhibition. Some scams are often advertised online too.

“In 2022, we recorded 897 victims of investment and advance fee scams in Herefordshire, Shropshire and Worcestershire who were targeted by criminals that are not comical or the friendly con-artists we see portrayed on TV or in the movies: they are well structured, well-funded and ruthless organised criminal groups.

“I want to reassure the public that we are working tirelessly with our colleagues in national and regional agencies to uncover these criminals and bring them to justice.

“If you get cold-called, the safest thing to do is hang up. If you get unexpected offers by email or text, it’s best to simply ignore them.

“Callers may pretend they aren’t cold calling you by referring to a brochure or an email they sent you – that’s why it’s important you know how to spot the other warning signs."

West Mercia Police has issued the following advice to protect people from fraud:

• Unexpected contact – traditionally scammers cold-call but contact can also come from online sources, eg email or social media, post, word of mouth or even in person at a seminar or exhibition

• Time pressure – they might offer a bonus or discount if you invest before a set date or say the opportunity is only available for a short period

• Exclusivity - scammers might claim that you’ve been specially chosen for an investment opportunity, and it should be kept a secret

• Social proof – they may share fake reviews and claim other clients have invested or want to take up the deal

• Unrealistic returns – fraudsters often promise tempting returns that sound too good to be true, such as much better interest rates than elsewhere

• False authority – using convincing literature and websites, claiming to be regulated, speaking with authority on investment products

• Flattery – building a friendship with you to lull you into a false sense of security

• Remote access – scammers may pretend to help and ask you to download software or an app so they can access to your device. This could enable them to access your bank account or make payments using your card

“The most important advice we can offer is to remember that you are in control and to not be rushed or coerced into making any decisions," DC Horton added.

To report Action Fraud, contact 0300 123 2040 from Monday to Friday 8am to 8pm.