NatWest cryptocurrency scam alert

NatWest issued an alert this week (26 May 2021), via their mobile app, of a scam targeting investors in cryptocurrency. They saw a record number of such scams in the first quarter of this year.

The scam uses websites with fake celebrity endorsements to persuade people to fill in a contact form. A criminal purporting to be a trader then makes contact to “help” set up a wallet and hand over money. Unknown to you this process also downloads remote access software to siphon off further money.

Best practice advises us to use the security features and software many banks offer for free to their customers. In addition, be wary of celebrity endorsements and check if traders are on the Financial Conduct Authority’s list of authorised firms and individuals.