The Financial Conduct Authority is concerned that young people in particular are turning to bloggers and influencers for investing advice - without fully understanding the risks. Scammers are also using social media platforms like Instagram, Facebook, YouTube and TikTok to target people, as the cost of living pushes people to look for high return investments.
In this podcast, we discuss what red flags to watch out for and how easy it can be to end up parted from your money.
The experts on the panel are Giles Mason, Director of Campaigns at UK Finance, Laura Suter, Head of Personal Finance at AJ Bell and Sharon Davies, CEO of Young Enterprise.
Presenter: Ruth Alexander Producer: Amber Mehmood Reporter: Sandra Hardial Editor: Elisabeth Mahy
If you have been affected by the issues covered in this podcast, visit BBC Action Line for advice or support: https://www.bbc.co.uk/programmes/articles/375cB1pZ3FwFRQMh9zLxZhb/information-and-support-fraud
(First broadcast 3pm, Wednesday 21st May 2023)