Their web page explains that cryptocurrency is obtainable to everybody and with any funds, meaning any one can slide victim.
Most corporations advertising and marketing and promoting investments in cryptoassets are not authorised by the Monetary Conduct Authority (FCA).
This usually means that if men and women commit in particular cryptoassets, they will not have entry to the Economical Ombudsman Support or the Fiscal Solutions Payment Plan if points go completely wrong.
On their wesbite, Santander implies how to protect oneself from investment decision and cryptocurrency ripoffs
They said: “How to shield yourself from investment decision and cryptocurrency frauds:
- Make the appropriate checks – corporations furnishing controlled economical expert services need to be authorised by the FCA. You can look at no matter if they are authorised on the FCA’s register
- Avoid clones (bogus firms that glance authentic) – use the speak to details on the FCA Sign up, not the make contact with details you’ve discovered on an on the internet advert, or that the agency provides you when they make get hold of.
- Do not assume it’s genuine – skilled-looking internet websites, adverts or social media posts do not generally signify that an expenditure possibility is genuine. Criminals can use the names of nicely-identified brand names or individuals to make their ripoffs show up legit.
- Continue to be in handle – steer clear of uninvited financial commitment presents irrespective of whether manufactured on social media or above the cell phone. If you are considering about creating an financial commitment, completely investigate the business 1st and take into consideration having unbiased suggestions.
- Never down load software or applications that make it possible for a person remote access to any of your devices, together with your personal computer, laptop, tablet or telephone.
- Don’t permit any one to established up a cryptocurrency wallet, upload ID documents or manage investments on your behalf remotely.”