Scam warning after Lothian woman loses thousands of pounds in cryptocurrency fraud

Police are investigating after a woman in East Lothian lost thousands of pounds to fraudsters.

The woman, 38, was contacted by someone claiming to be a cryptocurrency trader and was persuaded to download a mobile app to transfer funds in exchange for cryptocurrency. Police say this took place several times between September and November, with the victim losing a five-figure sum of money in total. A report was made about the crime in the Haddington area on November 17.

The victim has been offered advice and inquiries are ongoing, with police warning members of the public to be vigilant about scam calls.

Police urge people to be vigilant if offered high-value returns for investment in cryptocurrency, saying if a deal sounds too good to be true it usually is.

Detective Sergeant Declan Hogg said: “Do not trust any unexpected correspondence and never pass your personal or financial details to anyone, unless you are certain who they are and why they require that information. If you feel the need to reply to correspondence to check the authenticity of a contact, please only use the company’s verified official website and the communication methods detailed upon it.

“Especially where money is being requested, be it physically withdrawing it from the bank or the electronic transferring of it, always stop, think and check with a friend, relative or neighbour before taking any action. Please be careful and vigilant when it comes to financial service providers or adverts on social media offering high-value returns for investments in shares or cryptocurrency. If a deal is too good to be true, it usually is. Check the company’s details with the Financial Conduct Authority to ensure they are genuine.”

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