Financial Fraud Using Fake Celebrity Endorsements

The British National Cyber Security Centre (NCSC) has issued  warning about scams in which criminals use fake celebrity endorsements to promote investments. In a primitive form of Deepfake fraud, scammers’ attempts to lure people into making bogus investments with fake news articles promoting fictional investment advice from celebrities have been foiled by experts keeping the UK safe from cyber-attacks.

Online financial crime is on the increase  in the UK as fraudsters exploit the COVID-19 crisis to deceive victims and steal their money and personal information. During March alone, scam reports shot up by a massive 400%. Meanwhile, Action Fraud figures show losses from coronavirus-themed scams have now surpassed £5m ($6.17m).

Over the last four months, the NCSC has taken down over 300,000 malicious URLs linking to fake celebrity-endorsed investment schemes featuring famous faces such as Sir Richard Branson and Martin Lewis. They’re asking fans to send money for all kinds of supposed reasons – like claiming a prize, donating to a charity, or giving help of some kind. Some celebs do raise money for legitimate causes. But you want to be sure the cause, and the person asking you to support it, are real. The National Cyber Security Centre (NCSC) said it has removed over 30,000 malicious links in just four months.

Emails and advertisements encourage people to visit these websites, which have fake news articles about ‘getting rich fast’ which apparently have celebrity endorsements. They are asked to click on a link to “invest”, but the money is really being sent to cyber criminals.

The NCSC said it is taking “unprecedented action” to remove these scams, which are on the rise, from the internet as part of its Active Cyber Defence programme. Cyber-criminal activity cost the UK £197m in 2018 alone

“Celebrity endorsements are just one way criminals can promote bogus schemes online. People should not be fooled by images of luxury items such as expensive watches and cars, and posts on social media showing extravagant lifestyles, which are often used to persuade you to invest....To those of you who might be tempted, remember not every investment opportunity is genuine." Commander Clinton Blackburn, from the City of London Police commented

Criminals will do all they can to make their fraudulent material appear legitimate and if you think you have been the victim of an online fraud in the UK you should immediately report it to Action Fraud.

NCSC:          Yahoo Finance :       Evening Express:     ScamWatch:           Yahoo Sports:  

You Might Also Read:

Cybercrime In Britain Does Serious Harm:

 

« The New Generation Of Cyber Security Threats
Ransomware Criminals Arrested In Ukraine »

ManageEngine
CyberSecurity Jobsite
Check Point

Directory of Suppliers

North Infosec Testing (North IT)

North Infosec Testing (North IT)

North IT (North Infosec Testing) are an award-winning provider of web, software, and application penetration testing.

IT Governance

IT Governance

IT Governance is a leading global provider of information security solutions. Download our free guide and find out how ISO 27001 can help protect your organisation's information.

ZenGRC

ZenGRC

ZenGRC (formerly Reciprocity) is a leader in the GRC SaaS landscape, offering robust and intuitive products designed to make compliance straightforward and efficient.

Authentic8

Authentic8

Authentic8 transforms how organizations secure and control the use of the web with Silo, its patented cloud browser.

XYPRO Technology

XYPRO Technology

XYPRO is the market leader in HPE Non-Stop Security, Risk Management and Compliance.

QATestLab

QATestLab

QATestLab is a leading International software testing company offering a full range of software testing services including security testing.

Engage Black

Engage Black

Engage Black provides solutions for securing and protecting cryptographic keys, data at rest, and data in motion.

Samsung Knox

Samsung Knox

Samsung Knox brings multi-layered defence-grade security to your business’s smartphones and tablets.

Resistant AI

Resistant AI

Resistant AI protects against evolving online fraud. We connect the dots to provide a new layer of trust and performance for our clients’ systems.

SecZetta

SecZetta

SecZetta provides third-party identity risk solutions that are easy to use, and purpose built to help organizations execute risk-based identity access and lifecycle strategies.

Bloc Ventures

Bloc Ventures

Bloc Ventures is an investment company providing long-term, ‘patient’ equity capital to early stage unquoted deep technology companies.

CyberScotland

CyberScotland

The CyberScotland Partnership is a collaboration of key strategic stakeholders, brought together to focus efforts on improving cyber resilience across Scotland in a coordinated and coherent way.

Cloudsec Asia

Cloudsec Asia

Cloudsec Asia is Thailand's top-ranked cybersecurity consultant company. We offers security services to ensure that all your IT assets are reliable, accessible, and secure.

Orpheus Cyber

Orpheus Cyber

Orpheus Cyber provides predictive and actionable intelligence to our clients - enabling them to anticipate, prepare for and respond to the cyber threats they face.

Resilience Cyber insurance

Resilience Cyber insurance

Resilience helps to improve cyber resilience by connecting cyber insurance coverage with advanced cybersecurity visibility and a shared plan to reinforce great cyber hygiene.

Mutare

Mutare

For three decades, Mutare has been empowering organizations to re-imagine a better way to connect through our transformative voice security, digital voice and text messaging solutions.

Highen Fintech

Highen Fintech

Highen is a blockchain software development company with offices in the United States and development centers in India.

ECIT

ECIT

ECIT is your preferred provider of finance and IT services. We believe in the value of combining financial and IT services to streamline and improve the operation of your business.

Redpoint Cybersecurity

Redpoint Cybersecurity

Redpoint Cybersecurity is a human-led, technology-enabled managed cybersecurity provider specializing in Digital Forensics, Incident Response and proactive cyberattack prevention.

ReformIT

ReformIT

ReformIT is a Managed IT Service and Security provider with many years experience helping companies find the right IT solutions to meet the needs of their businesses.

Cyber Command Pvt Ltd

Cyber Command Pvt Ltd

Cyber Command is your one-stop Cyber Security Service Provider, dedicated to delivering customized cybersecurity solutions that safeguard businesses from today's complex threat landscape.