Martin Lewis: Enough is enough
“People are committing suicide or are planning to commit suicide because of fraud”
During the meeting, Martin explained that even though he “doesn’t advertise,” scammers often use the faces of famous people, including himself, to legitimize scams. Martin gave the example of a lady who had bladder cancer and had savings for her granddaughter’s wedding. She invested it because she wanted it to go a little further, saying, “If Martin sponsors him, it must be fine.” She lost £ 15,000 on her own trying to get the money back.
In another story Martin told about, a woman whose parents of grandchildren had passed put the money they saved in a scam because Martin’s face was on it and she “made me. confidence “.
Martin explained, “If you are wondering why I am so passionate about this; I have spent 20 years trying to do consumer protection work and see lives being destroyed. It’s not just people who lose money. If you’ve just donated your retirement fund that you worked 30 years for and feel stupid – and they’re not stupid, but they feel stupid because they’re really sophisticated and smart people – you wouldn’t mind. not put back in years. “
He added, “I find it deeply frustrating to be told that ‘well, we have to do some research on this’ and ‘we might get a solution in a few years’. People commit suicide or are planning to commit suicide, because they blame themselves for the scam they fell into. “
Martin’s warning is new research from Which? now reveals that the estimated average decline in the welfare of victims of fraud is the equivalent of £ 2,509 per year. This estimate is even higher – £ 3,684 – for online fraud. This welfare impact is significantly greater than the average financial sum lost to fraud, according to the consumer group.