FRAUD campaigners are warning Dorset residents of a new cryptocurrency scam.

Scammers are advertising 'get rich quick' investments by cold calling their victims and using social media platforms.

The fraudsters will convince victims to sign up to cryptocurrency investment websites. Those targeted give personal information, including credit card details and driving licences, to open a trading account. The victim will then make an initial minimum deposit, after which the fraudster will call them to persuade them to invest again in order to achieve a greater profit.

In some cases, victims have realised that they have been defrauded, but only after the website has been deactivated and the suspects can no longer be contacted.

Pauline Smith, director of Action Fraud, said: “It’s vital for anyone who invests or is thinking of investing in cryptocurrencies to thoroughly research the company they are choosing to invest with.

“The statistics show that opportunistic fraudsters are taking advantage of this market."