“According to data from Action Fraud analyzed by MoneySavingExpert.com, celebrities such as Martin Lewis, Taylor Swift, Elon Musk, and Adele are among the most frequently misused profiles in scam advertisements.
MoneySavingExpert.com reviewed reports from 2022 and 2023, revealing that prominent figures from entertainment, business, politics, and royalty have had their names exploited in various scams.
Martin Lewis, founder of the website, topped the list of most frequently targeted public figures in these reported scams. The analysis also highlighted losses exceeding £20 million attributed to scams misusing Martin Lewis’s profile over the past two years, with the largest reported individual loss amounting to £500,000.
In response, Martin Lewis cautioned, ‘It’s likely that these criminals utilize their own sophisticated dark-web digital marketing strategies to exploit celebrities and refine their methods to lure more victims.’
He continued, ‘If an advertisement features me, it’s invariably a scam as I do not endorse any products. Topping this list is perhaps the worst form of flattery I’ve encountered.’
Martin Lewis further emphasized the need for stricter obligations on tech companies to collaborate with banks in preventing scams and supporting victims, highlighting ongoing efforts to monitor these developments closely.
For those who suspect they’ve fallen victim to a scam, Martin Lewis advised contacting their bank and the police immediately. Additionally, consumers can utilize the 159 scheme offered by various banks to report suspicious activities.
In England, Wales, and Northern Ireland, scams can be reported to Action Fraud, while in Scotland, individuals can contact Police Scotland. Victims are also encouraged to notify the Advertising Standards Authority (ASA) regarding online scams and explore options like Section 75 of the Consumer Credit Act for credit card purchases or the chargeback scheme to reclaim funds.”
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