Gordon Sham-sey demonstrates the most common methods of impersonation fraud

Maria Nikolova

The “Fraudstars” team aims to raise awareness of impersonation fraud and to help the public avoid the traps of such scams.

Meet Richard Scam-son, Karren Shady, and Gordon Sham-sey! Together, they form the “Fraudstars” team that aims to raise awareness about impersonation scams.

The impressive lookalike CEOs are enlisted by Get Safe Online and Lloyds Bank to show just how easy it can be to fall victim to impersonation fraud. Disguised as famous faces, the trio demonstrate some of the most common methods of impersonation fraud, and how potential victims can stop scammers in their tracks.

The “Fraudstars” campaign is launched as research commissioned by Get Safe Online and Lloyds Bank into the effect of impersonation fraud on SME businesses has revealed that:

  • Impersonation fraud is costing victims an average of £27,000 each time;
  • The number of attacks has risen a huge 58 per cent in the past year alone;
  • Over half (53%) of respondents say they have experienced scammers posing as their boss, demonstrating a rise in the popularity of CEO impersonation fraud;
  • A similar number (52%) say they have experienced invoice fraud – a rising scam where fraudsters pose as known suppliers to the company and send an invoice with a false change of bank account details.

Gordon Sham-sey’s razor-sharp lookalike credentials can only get him so far in pretending to be the boss. By employing the impersonation fraudster’s kryptonite – double checking details – his scams can be foiled.

The advice holds true for countering any financial fraud. Double checking the details of an entity that contacts you out of the blue can save your finances. It is not a random occurrence that regulators urge investors to check whether a certain entity is regulated or whether it has any registration in official databases.

That said, let’s note that there are various financial scams targeting UK residents – at their workplace and outside of it. The lack of regulations for cryptocurrencies has been one of the triggers for the rise of scams related to digital currencies.

Recently published data by Action Fraud reveals that UK residents continue to experience the negative effects of cryptocurrency scams. Fraudsters will convince victims to sign up to cryptocurrency investment websites and to part with their personal details such as 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.

Between June 1, 2018 and July 31, 2018, 203 reports of fraud involving cryptocurrency were filed with Action Fraud. The total reported loss was £2,059,501.29. In some cases, victims have realized that they have been defrauded, but only after the website has been deactivated and the suspects can no longer be contacted.

Read this next

Digital Assets

Crypto exchange Bittrex exits US market amid regulatory woes

Bittrex said on Friday it plans to wind down operations in the United States and voluntarily liquidate because of the uncertain regulatory environment surrounding their business.

Institutional FX

Tradeweb completes integration of Nasdaq’s US fixed income platform

Tradeweb Markets has completed the technology integration of Nasdaq’s US fixed income electronic trading platform, formerly known as eSpeed, which it acquired two years ago in a $190 million, all-cash transaction.

Digital Assets

FTX Europe to allow client withdrawals via new website

The Cypriot unit of failed cryptocurrency exchange FTX has launched a new website that it says would allow customers to withdraw deposits of fiat currency and crypto assets after months of suspension.

Retail FX

Liquidators apply to cancel SVS Securities’ FCA license

An update published today by Leonard Curtis said the UK high court of justice has approve their application to bring the special administration of the failed wealth manager SVS Securities to an end.

Digital Assets

Japan forms government panel to pilot digital yen

Japan’s Finance Ministry has created an advisory panel to look at the feasibility of issuing a central bank digital currency, otherwise known as “CBDC”.

Digital Assets

USDC sees massive $10.4 billion outflows in March

Cryptocurrency traders have withdrawn more than $10 billion from the world’s second largest stablecoin, USDC, in less than three weeks even as concerns over the fallout from the Silicon Valley collapse have receded.


OSTTRA’s Joanna Davies goes beyond 30-30-30 data standard at FIA Boca 2023

FinanceFeeds Editor-in-Chief Nikolai Isayev spoke with Joanna Davies about OSTTRA.


CloudMargin’s Stuart Connolly on how to manage collateral amid high rates at FIA Boca 2023

FinanceFeeds Editor-in-Chief Nikolai Isayev spoke with Stuart Connolly about CloudMargin’s SaaS platform, said to be the only cloud-native collateral and margin management system in the industry, at a time of stress due to rising interest rates.


Baton Systems’ Alex Knight on solving post-trade with DLT at FIA Boca 2023

FinanceFeeds Editor-in-Chief Nikolai Isayev spoke with Alex Knight about Baton Systems’ about rising settlement fails, collateral management, and the profile of DLT beyond cryptocurrencies.