A new month brings fresh scam warnings. And the numbers show just how costly it can be to get caught out. A recent survey found that 4 in 10 UK scam victims recovered nothing after losing an average of £765. That’s money most households simply can’t afford to lose.
From fake compensation calls to phoney celebrity-backed investments, fraudsters are working harder than ever to part people from their cash. Here’s our August round-up so you can stay one step ahead.
Car finance scams: fraudsters cash in on compensation confusion
The FCA plans to set up a redress scheme for drivers charged unfair commission under now-banned Discretionary Commission Arrangements (DCAs). But the scheme hasn’t launched yet. So any cold calls, texts, or emails claiming to offer you compensation now are scams.
Watch out for
- Requests for bank details, NI numbers, or security codes.
- Urgent demands to “claim now” or “verify your account”.
The FCA will never ask for your PIN, password, or bank login. Hang up, delete the message, and don’t click links.
Quantum AI: the investment scam making a comeback
The notorious Quantum AI scam is back on social media, using fake endorsements from celebrities like Elon Musk, Martin Lewis, and Deborah Meaden to push a dodgy investment scheme.
Scammers create fake news articles and high-pressure ads promising huge daily returns if you invest. Victims are then hounded with calls and emails – and rarely see their money again.
The FCA has warned that Quantum AI is unlicensed and should be avoided entirely.
Nixol diet pill scam: fake Dragons’ Den endorsements
Which? has uncovered 62 Facebook and Instagram ads falsely claiming Nixol weight-loss pills were backed on Dragons’ Den. Some even use AI-generated images of the Dragons holding the product. Many ads link to fake Daily Mail articles and lead to a subscription trap costing £55 a month – often with no refunds. You can find out more about the Which? investigation here.
Fake diet pills can contain dangerous substances. The Medicines and Healthcare products Regulatory Agency (MHRA) warns against buying weight-loss products outside of pharmacies or via your GP.
Be phishing-aware after recent data breaches
A wave of recent data breaches means more personal details are in the hands of scammers. That often leads to tailored phishing attacks – emails, texts, or calls that look genuine because they use your real information.
Whether it’s a leaked email address, stolen passwords, or worse, a data breach can leave you exposed to scams, ID fraud, and credit damage.
But if you have fallen victim to a data breach, you’re not powerless. Our handy guide shows you what to check, how to protect yourself, and what steps to take right now to stay one step ahead.
“Want to earn £200 a day from your phone?” The task scams that cost you money
Scammers are offering “easy” jobs like liking TikTok posts or reviewing films on IMDb for big money. They’ll often show you fake “earnings” before asking for deposits to unlock more tasks. These scam jobs are flooding platforms like WhatsApp, Telegram, Instagram and TikTok.
Once you pay, the scammers vanish, and may use your details to target you again.
Signs of a task scam include:
- Contact out of the blue.
- No experience required but huge promised returns.
- Requests for payment at any stage.
Fake DfT fine texts
The Department for Transport has warned of scam texts claiming you owe fines for outstanding traffic tickets. The DfT never issues fines via text and will never ask for payment through a link. Report messages to [email protected] or forward to 7726 for free.
Stay one step ahead
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