Users should be aware of emails claiming to offer a money making investment opportunity that, according to the email, has been endorsed by UK TV host Martin Lewis.
The emails will names and images of the UK’s “MoneySavingExpert” Martin Lewis and urge readers to click on links in the email to read more about a new financial opportunity he has created or endorsed.
Type of Scam: Get-Rich-Quick, Work-From-Home scam
Attack Type: Scam investment opportunity leading to unregulated trading platforms
Social Engineering Technique: Claiming investment is endorsed/operated by reputable entity
These emails are get-rich-quick scams that are designed to lure recipients to unregulated trading platforms by claiming they are some type of new financial money-making system that will make those who use them rich. In reality, unregulated trading platforms are an inherently dangerous financial risk and most who use them will lose money.
Many of these emails will make outlandish claims, such as one sent early 2022 that claims recipients could make as much as 7000 euros per day (screenshot of the email below.)
However these emails actually link to fake news articles that promote scam get-rich-quick “systems” with names such as Bitcoin Trader and Bitcoin Loophole.
These in turn will try and lure victims to unregulated trading platforms that require large deposits to begin trading, all under the guise that the victim will make lots of money. In reality, with little trading experience, using unregulated platforms and bolstered with the false belief they are using a “proven system”, most users will go on to lose their deposits. (We discuss these in more detail here.)
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These types of get-rich-quick scams have been around for a number of years and often promote themselves using social media ads, emails and fake articles made to look like news media articles.
The advice here, as our regular readers will already know, is if it appears too good to be true, it probably is. Just because an advert or email makes something appear to be endorsed by someone you trust, it doesn’t mean its genuine.
If you get an email like the one above, don’t click on any links (even the unsubscribe button) and don’t reply to it. In the UK you can report scam emails to report@phishing.gov.uk.