Major British bank Natwest has launched an alert to urgently warn its customers of cryptocurrency scams, which have been on the rise. The bank has provided several tips for customers “thinking of investing in bitcoin or other cryptocurrencies” on how to spot scams involving cryptocurrencies. “If you ignore the above advice, you could lose all of your money,” the bank cautioned.

Natwest’s Advice on How to Spot Crypto Scams

National Westminster Bank (Natwest), a major retail and commercial bank in the U.K., has launched an urgent cryptocurrency scam alert on its mobile app. The alert urges customers to beware of scams involving cryptocurrencies following a record number of reports in the first quarter.

Natwest explained that a common scam people fall victim to involves fake celebrity endorsement, such as The Virgin Group founder Sir Richard Branson. Natwest’s head of fraud prevention, Jason Costain, was quoted by the media as…

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Source: https://news.bitcoin.com/british-bank-natwest-tips-avoid-cryptocurrency-scams/