Investors lose £27m to 'get rich quick' crypto and forex scams in 2018/19

Complaints triple in past year

Mike Sheen
clock • 2 min read

Losses as a result of "get rich quick" cryptoasset and forex scams exceeded £27m during the 2018/19 financial year, with the number of investors reporting fraud tripling on the previous year's figures.

To continue reading this article...

Join Investment Week today

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Regulation

FCA crackdown leads 24 CFD firms to cease operating since 2025

FCA crackdown leads 24 CFD firms to cease operating since 2025

Misuse of authorisation

clock 25 September 2026 • 1 min read
FCA takes loan notes firm to High Court over alleged unauthorised activity

FCA takes loan notes firm to High Court over alleged unauthorised activity

Hearing date yet to be set

clock 21 September 2026 • 1 min read
FCA crypto registrations more than double ahead of landmark regulatory framework

FCA crypto registrations more than double ahead of landmark regulatory framework

Majority now achieve approval

clock 21 September 2026 • 2 min read
Trustpilot