CRYPTOCURRENCY FRAUDS MOST COMMON SCAM TYPE, SAYS ACTION FRAUD

MORE than £649 million was lost to investment fraud across the UK in 2024, with over £2 million of that total lost in the Dyfed-Powys Police area.

New data from Action Fraud shows a worrying rise in the scale and impact of scams, even as the number of individual reports has fallen.

A total of 25,843 reports of investment fraud were received last year — a 7 per cent decrease compared to 2023 — but the financial losses jumped by 13 per cent, highlighting that scams are becoming fewer but more costly.

The most common type of fraud involved cryptocurrency, featuring in 66 per cent of all reports — up 16 per cent on the previous year.

Criminals targeting all age groups

The age group most likely to be targeted was 35 to 44, but those aged 55 to 64 suffered the highest financial losses, according to the figures.

Investment fraud typically involves criminals persuading victims — often out of the blue — to put money into high-return schemes or products that are either worthless or entirely fictitious. Popular cons include investments in foreign exchange, gold, precious metals, overseas timeshares, and cryptocurrency.

‘If it sounds too good to be true…’

Detective Superintendent Oliver Little, from the City of London Police, which leads the national response to investment fraud, said: “Investment fraud continues to be a key focus area because of its prevalence — which is evident from the stark figure of £649 million lost last year.

“It may seem obvious, but we always stress the age-old saying: If it sounds too good to be true, it almost certainly is.

“These fraudsters are often highly skilled at making their pitch sound convincing. Don’t be tempted by the promise of ‘easy money’ — legitimate investing is never simple or risk-free.”

He added that people should always research opportunities independently, check the Financial Conduct Authority (FCA) register, and avoid taking advice from strangers or over social media.

Social media: A fraudster’s playground

Social media continues to be a key enabler for fraud, with 36 per cent of investment scams starting on a platform. WhatsApp was the most common, used in 40 per cent of scams, followed by Facebook (18 per cent) and Instagram (14 per cent).

Criminals often impersonate well-known celebrities to gain credibility. In 2024, the most impersonated figure was money-saving expert Martin Lewis — whose name was used in 44 per cent of these cons. Other popular names used by scammers included Elon Musk (40 per cent) and Jeremy Clarkson (8 per cent).

Action Fraud said AI-generated images and deepfake videos were increasingly being used to give scams a false sense of authenticity.

Warning signs to watch for

According to Action Fraud, there are several red flags that often signal a fraudulent investment opportunity:

• Contact via social media or WhatsApp: Unsolicited investment messages are a major red flag. Block and report the sender.
• Promises of guaranteed high returns: Cryptocurrency and trading frauds made up 75 per cent of all scam types. Be sceptical of anyone promising returns of 10–20 per cent or more.
• Use of celebrity endorsements: Fake ads using celebrities like Martin Lewis and Elon Musk cost UK victims over £10 million last year.

How to protect yourself

• Take your time: Legitimate companies will never rush you into investing.
• Get advice: Speak to someone you trust, or consult a qualified financial advisor.
• Check the FCA register: Make sure the company is authorised. If it’s not, you won’t be protected if something goes wrong.
• Be wary of recovery scams: Victims are often targeted again by criminals claiming they can recover lost funds — for a fee.

Help and advice

If you’ve been a victim of investment fraud:

• Contact Action Fraud via www.actionfraud.police.uk or call 0300 123 2040 (England, Wales, Northern Ireland).
• In Scotland, call Police Scotland on 101.
• Report unregulated firms to the FCA using the form on their website or call 0800 111 6768.
• Check your credit rating regularly in case of identity theft.
• Seek legal advice — fraud cases can also give rise to civil legal claims, including the tort of deceit and breach of contract.

For tips on staying safe, visit: https://www.fca.org.uk/scamsmart or https://stopthinkfraud.campaign.gov.uk

Marine experts urge shift to herring and sardines as stocks decline

MACKEREL stocks in the north-east Atlantic are reaching a critical low due to continued overfishing, prompting a downgrade in sustainability ratings and a call for urgent action.

The Marine Conservation Society (MCS), which publishes the annual Good Fish Guide, has now advised consumers and retailers to seek alternative species such as North Sea herring and Cornish sardines.

Once considered a plentiful and sustainable choice, north-east Atlantic mackerel has suffered from years of overfishing, with catch levels exceeding scientific advice by an average of 39% between 2020 and 2024. Some years have seen limits surpassed by up to 80%, largely due to activity by nations including the UK, Norway, Iceland and the Faroe Islands.

Alice Moore, manager of the Good Fish Guide, said: “It’s deeply concerning to see a fish that was once a sustainable staple now facing a steep decline. Unless nations urgently align their catch limits with scientific recommendations, we risk losing this important species from our seas.”

The Good Fish Guide uses a traffic-light system to rate fish and seafood according to sustainability. Green (ratings 1–2) marks the best choices, amber (3–4) signals concerns, and red (5) indicates species to avoid. The guide also provides tailored advice to businesses such as restaurants and supermarkets, encouraging them to stock only fish rated between 1 and 3.

In the latest update, north-east Atlantic mackerel caught using midwater trawl nets—common in supermarket and restaurant supply chains—has been downgraded from amber (3) to a 4, placing it in the “fish to avoid” category for retailers. Mackerel caught by hook and line has also seen a downgrade, from 2 to 3.

Conversely, some positive changes were reported. Monkfish from the North Sea has been upgraded from amber to green, signalling a more sustainable recovery. Blue marlin has been removed from the red list altogether.

Despite these gains, the warning over mackerel is stark. The MCS says the fish is “nearing a breaking point” and that international cooperation is now vital.

“We are witnessing a slow collapse of what was once a success story in sustainable fishing,” Moore said. “The UK must lead efforts to protect the long-term future of our marine ecosystems.”

THREE Carmarthenshire primary schools are taking part in a pilot to redesign primary school lunch menus in the county, using local produce to promote health, wellbeing, sustainability, social value and education.

Carmarthenshire County Council’s Future Generations Menu pilot aims to align public sector catering with local and national policies, including environmental sustainability, rural economic growth, and net-zero targets.

The Council has commissioned the local non-profit organisation, Cegin y Bobl, to work with Ysgol Teilo Sant, Llandeilo Primary School and Ysgol Pen Rhos, in co-creating the new menus.

Catering staff, teachers, parents, and children are joining chefs and educators from Cegin y Bobl to develop nutritious meals that will be served in the schools’ canteens. The redesigned menus are being created to reflect the seasonality of Welsh produce, which helps increase local economic impact and reduce reliance on imported food.

As a result, fresh, seasonal produce from Bremenda Farm in Llanarthne will be grown specifically for schools across the academic calendar. This 100-acre farm, owned by the Local Authority, is being used as a trial location to grow high-quality, affordable fruit and vegetables for the public plate. This initiative supports local agriculture, reduces the environmental impact of food production and transportation, and introduces children to the benefits of eating fresh, locally sourced ingredients.

The redesigned menus will be introduced to the three participating schools in September 2025, with plans for a county-wide rollout in September 2026. A recipe file will also be made available as an open-source resource for other local authorities in Wales, helping other schools integrate sustainable food practices.

Carmarthenshire County Council’s Cabinet Member responsible for Rural Affairs, Planning and Community Cohesion, Cllr Carys Jones, said: By involving the entire school community, we’re creating a collaborative approach to better food choices. This initiative isn’t just about changing menus; it’s about helping young people understand where their food comes from, why it matters, and how it connects to a healthier future for both them and the planet.

This pilot has been funded by the Welsh Government through the Backing Local Firms and Innovation Funds and is part of Carmarthenshire County Council’s broader commitment to local and sustainable food.

For more information, visit the Future Generations Menu web page.