Fine wine investment scam is not the real deal

Telephone scam victim
Telephone scam victim

Fraudsters are still active and are using various methods to dupe victims into investing in fine wine , said The National Fraud Intelligence Bureau (NFIB).

Whilst it might be easy to identify a fraudulent investment in non-existent fine wine, there is another tactic which is much harder to detect that relies on limited knowledge of the investor in this specific area.

In many cases, the fraud relates to the value of the wine as opposed to the existence of the wine.

Therefore, fraudsters will be able to prove to the victims that they have the wine in stock, however the wine in stock will be significantly cheaper than the inflated price the fraudsters ask the victims to pay.

Whilst it may look like a ‘real deal’, the dramatically inflated prices make the promise of any returns unrealistic.

If you believe that you have been a victim of fraud you can report it online or by telephoning 0300 123 2040.