|Martin Lewis is famous as the founder of the Money Saving Expert website.|
In his weekly newsletter he has highlighted the following scam:
Martin's plea for help: 'Spread the word... don't believe Facebook ads'
A new plague of scam Facebook ads using Martin's name, face & supposed recommendation has hit
I don't do adverts. If you ever see one with my face or name on it, it is without my permission, and usually a scam. Admittedly some are supposedly legit firms bending the rules to imply a link (though do you really trust firms that'd do that anyway?).
The latest Facebook ad plague with me in is the 'Bitcoin Code' or 'Bitcoin Trader' scam, which lies saying I suggest investing in it. In fact they're not even about Bitcoin (see my real view on Bitcoin) but about binary trading, something no one should touch with a bargepole.
Sadly we've already heard of people who've lost over £20,000 saying: "I only pursued it because I thought it was recommended by Martin." The thought of that makes me feel physically sick. I've spent my career trying to campaign for financial justice and now these b*****ds leach off that trust to rob vulnerable people.
Please help by doing two things (thanks in advance)...
1. Spread the word. An easy way is to share this Facebook post or retweet this Twitter post.
2. Report the scam. If one pops into your timeline, report it to Facebook (or elsewhere) and post in the comments that "This is a fake ad, Martin Lewis warns against this, do not trust it."
And yes, it's been reported to Facebook many times. Yet its systems are abysmal - instead of using image recognition to proactively block, it takes scammers' money and relies on people reporting them.
PS: Not an ad, but you will occasionally see my pic on other sites, such as Resolver. If so, and it's approved, I always require they put a link back to where it's explained on MoneySavingExpert.
This is just one example of scams circulating via Social Media.
Remember to always #TakeFive before responding to anything that sounds too good to be true - it probably is!