In its Fraud Strategy 2026 to 2029, the UK government emphasised the ‘growing risk’ posed by cryptocurrency, particularly highlighting its role in investment fraud. Although there are a number of criminal offences which apply to the perpetrators of such fraud, the regulatory framework is still developing.

An ‘investment scam’ is a fraudulent scheme designed to steal the victim’s money, often presented with little or no risk and very high returns. Common scams involve impersonating financial professionals to make the offer seem credible and convincing the victim to ‘seize the opportunity’ and invest quickly in order to make gains.  

According to the Financial Conduct Authority (FCA), reports of crypto investment frauds have more…