The United Kingdom Financial Conduct Authority (FCA) has reported that common investment scams’ losses — including those crypto-related — amounted in total to over £197 million ($255 million) in 2018. The agency reported the losses in an official press release published on Feb. 6.
According to data from the FCA call center, the most common reported scams involved unauthorized investments in shares and bonds, forex markets and cryptocurrencies. Each victim lost an average of £29,000 ($37,000), with such types of fraudulent investments accounting for a total of 4,996 reported cases and constituting 85 percent of the overall number of scam reports in 2018.