NatWest has issued an alert to people to beware of cryptocurrency scams.
It said it had prevented millions of pounds from being sent to “crypto-criminals”.
The frauds typically involve scammers posting adverts with a bogus celebrity endorsement on a fake website with an article promoting cryptocurrency.
Investors are asked to complete a contact form and the criminal uses these details to follow up with a telephone call.
During the call the fraudster, posing as a cryptocurrency trader, helps the victim open a wallet with a trading platform and in the process persuades them to install remote access software onto their computer.
Small sums to start with but worse to follow
Initially the victim transfers a small amount of money to the wallet, but over time they are persuaded to invest far larger sums. Remote access software is then used to empty the victim’s cryptocurrency wallet.
NatWest is offering customers free software to…