Warning after man duped by investment scam

Officers are warning people to be vigilant after receiving reports of a scam which claims to make the victim’s £1,000 a week from a £200 investment. 

It comes as high street banks have reported instances of individuals coming in branches to withdraw cash to give to fraudsters. 

Recently, an elderly man was looking to withdraw £200 from his Stoke-on-Trent bank, leaving him with just £4 in his account, after believing an online scam which appeared to be endorsed by the Prime Minister. 

Thankfully, the bank alerted us to what had happened and we were able to speak to the victim and arrange further checks on his account, with help from the bank, so as to protect the victim from any further issues. 

Simon Street, our fraud protect and prepare coordinator, said: “This type of scam is highly common and plays on people’s vulnerabilities. 

“Anyone who is running low on cash wants to be able to garner more funds, and that’s what the fraudsters bank on.

“If it sounds too good to be true, it more than likely is.”

We are continuing to feature stories of fraud and financial crime as part of our ongoing campaign. To find our more, visit: Truth or Trap | Staffordshire Police.