Fake endorsements have been made on social media by the Duke and Duchess Sussex to promote Bitcoin-related investments.
Fabricated interviews, as well as photos of Prince Harry and Meghan Markle, have been used in online articles falsely claiming the couple have backed schemes related to Bitcoin and cryptocurrency trading.
One of the latest fake headlines reads: ‘People earning millions from home by using Harry and Meghan latest advice’.
This story uses logos from news brands such as the Mail, BBC, Sun, Good Morning Britain, and Guardian.
Another said: ‘Harry and Meghan shocked everyone in the studio by revealing how they making (sic) an extra £128k every month’.
Harry and Meghan are among a string of celebrities – including Bill Gates, Sir Richard Branson and Mark Zuckerberg – being misused in get-rich-quick scams, according to the Financial Conduct Authority.
It comes as the number of consumers reporting possible scams to the UK’s financial services watchdog has risen by more than 400 per cent in five years.
To promote Bitcoin-related investments, the Duchess and Duke of Sussex were fakely endorsed on social media by them
It comes as the number of consumers reporting possible scams to the UK’s financial services watchdog has risen by more than 400 per cent in five years
False claims are made in the articles that royal couples supported investments related to Bitcoin.
A supposed investor is quoted as saying: ‘I let the software run and my profits stacked up like pancakes. It feels incredible having money rush in this fast and hard.’
Another says: ‘My ex-girlfriend dumped me because I was too poor. Now I’m a multi-millionaire and I have an even better girlfriend.’
According to the BBC, these articles were seen by the FCA and appear to link to an Eastern European website.
Although the broadcaster tried to contact the site, they did not respond. You can now access the Royal Family online via an internet link.
According to reports, representatives of the duke/duchess were alerted. MailOnline reached out to their spokesperson for comment.
The FCA reported that there were over 34,000 consumer reports last year alleging fraudulent investments. The number of reports was 8,000.
Harry and Meghan are among a string of celebrities – including Bill Gates, Sir Richard Branson and Mark Zuckerberg – being misused in get-rich-quick scams, according to the Financial Conduct Authority
Between April 2020 and March last year, there were 500 investment frauds found using fake celebrity endorsements, with losses of over £10million, according to the latest data from Action Fraud.
An FCA spokesperson told MailOnline: ‘People should be very wary when they see investment ads offering high returns, even if they appear to be endorsed by celebrities.
‘You can check if a company is regulated by us on the Financial Services register. If it isn’t, you are very unlikely to have any protection if things go wrong.
‘Where potential scam activity takes place outside of our remit, we will involve other law enforcement agencies who may be able to take further action.
‘We have continued to call on the Government to include financial content within the Online Safety Bill.’
Citizens Advice director of policy Matthew Upton said the ‘consequences can be truly devastating’.
He told the BBC: ‘These schemes are becoming ever-more sophisticated and can leave people feeling incredibly vulnerable and isolated – to the point where they can’t even tell their family and friends what has happened.’