Holly Willoughby Tops The Scammer Chart No One Wants to Top

Justin Freeman

Holly Willoughby Tops The Scammer Chart No One Wants to Top

Daytime TV presenter Holly Willoughby has been attributed the very unwelcome title of the celebrity whose profile is most likely to be used and abused by online scammers. The findings of a Nat West report into online investment fraud in 2021 make grim reading for those concerned about online fraud. Not least because of the ease with which scammers can exploit celebrity profiles to create fake social media posts and defraud their victims.

How Do Online Celebrity Scams Work?

The report details how one victim lost close to half a million pounds in an illegal scheme which started with a Facebook post relating to Willoughby. The false claim was that she and co-presenter Phillip Schofield had made a significant return on a £200 crypto investment. Once the scammers had their victim hooked, they exploited the situation for several months, and several payments later, the losses totalled £370,000.

Why Holly Willoughby?

Deconstructing the headline conclusion of the report, a spokesperson for Nat West offered an insight into the techniques used by fraudsters and why Willoughby’s profile was used so frequently by the crooks. He explained that Willoughby would have been ‘selected’ due to her on-screen reputation for trustworthiness and because her daytime television programme would have an audience of pensioners with spare money to invest.

There is no suggestion that Ms Willoughby or other celebrities are involved in what is turning into a thriving industry for criminals. Nor is it a ‘race’ that anyone would want to participate in, let alone win. But noting the other profiles often used by scammers sheds further light on the situation and possible ways for the public to protect themselves.

One of the other most widely used profiles is ironically the consumer champion Martin Lewis. One fake advert involving Martin Lewis was traced as the catalyst for an unsuspecting victim of crime losing £317,000 to scammers. The illegal use of Lewis’ profile highlights the brazen nature of the schemes, and things will likely get worse before they get better. The highest value fraud in 2021 was 40% greater than in 2020, which explains why criminals are incentivised to pull all the tricks they can to lure in their victims.

Final Thoughts

The increasingly sophisticated methods used by scammers expertly exploit the cross-over between mainstream and social media channels. It’s a challenge for anyone to navigate the situation safely and to remember the tried and tested ways of spotting fraud that are now more important than ever.

Crowdsourcing information about scam brokers can help others avoid falling into the traps set by disreputable brokers, and you can share your experiences here. If you would like to know more about this particular topic or have been scammed by a fraudulent broker, you can also contact us at [email protected]


Justin Freeman

Latest news

Forex vs Crypto: What’s Better For Beginner Traders?
The crypto and forex markets are two of the world’s most popular among investors and traders. Read more
Three Great Technical Analysis Tools for Forex Trading
You don’t have to be very technical minded to make use of technical analysis in your forex trading. Read more

Safest Forex Brokers 2024

Broker Info Best In Customer Satisfaction Score
#1 73% of retail CFD accounts lose money. Founded: 2014 Global Forex & CFD Broker
Number One Broker
Best Trading Conditions Visit broker
4.9
#2 Blackbull LogoYour capital is at risk Founded: 2014 Global Forex Broker
Number One Broker
BEST SPREADS Visit broker
4.8
#3 AvaTrade LogoYour capital is at risk Founded: 2006 Globally regulated broker
Number One Broker
BEST CUSTOMER SUPPORT Visit broker
4.9
#4 plus500 logo 80 april 2024* 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money Founded: 2008 Global CFD Provider
Number One Broker
Best Trading App Visit broker
5
#5 Between 74-89 % of retail investor accounts lose money when trading CFDs Founded: 2010 Global Forex Broker
Number One Broker
Low minimum deposit Visit broker
4.9
#6 Forex Broker eToro Logo76% of CFD traders lose money Founded: 2007 Global CFD & FX Broker
Number One Broker
ALL-INCLUSIVE TRADING PLATFORM Visit broker
4.9
#7 XM LogoYour capital is at risk Founded: 2009, 2015 and 2017 Global Forex Broker
Number One Broker
Low minimum deposit Visit broker
5
#8 FxPro LogoYour capital is at risk Founded: 2006 CFD and Cryptocurrency Broker
Number One Broker
CFD and Cryptocurrency Visit broker

    Forex Fraud Certified Brokers

    BlackBull Logo Small
    plus500 logo 80 april 2024
    AvaTrade logo
    XM Logo
    eToro Logo
    FXTM Logo
    FxPro logo
    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.