Police warn of scam targeting punters and potential owners
City of London Police have issued a warning to racing punters after fraudsters reportedly conned money out of individuals seeking to place bets.
According to Action Fraud, the UK’s national fraud and cyber crime reporting centre run by City of London Police, 20 complaints have been received with a total of £11,350 lost.
The group have warned that suspects are claiming to use software for placing bets on behalf of their victims and disappearing once a payment is made, with the victim often never hearing from them again.
Action Fraud also warned about a re-emergence of incidents in which individuals are encouraged to invest in ownership of horses. It says victims are offered the opportunity to invest, often by post, before similarly disappearing when payment is made.
City of London detective chief inspector Andy Fyfe said: “With such large amounts of money involved, investment fraud in the horse racing community can leave people without a horse and having experienced a significant financial loss.
"We are urging people to thoroughly check the details of organisations they are dealing with and consider seeking independent advice before going ahead with an investment."
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