Regulation

Over 300k Illegal Website URLs Linking To Fake Ads Banned By NCSC.

Over the recent 4 months, the NCSC [National Cyber Security Centre], removed over 300k URLs linking to fake celebrity-endorsed investment opportunities. Over a half of these websites belonged to fraudulent cryptocurrency investment schemes.

According to the announcement published by the NCSC earlier on 14th August, an increasing number of these scams utilized fake endorsements from national celebrities, like Ed Sheeran and Richard Branson. This raised red flags for authorities, prompting the launch of a huge retaliatory campaign.

Adding further, the CEO of the NCSC, Ciaran Martin, commented:

“These investment scams are a striking example of the kind of methods cyber criminals are now deploying to undertake to con people. We are exposing them today not only to boost public awareness but to point out the criminals behind them that we all know what they’re up to and are taking action to prevent it.”

Also in Australia, a similar warning was issued by the ASIC [Australian Securities and Investments Commission]. They too asked people to stay cautious about celebrity-endorsed Bitcoin [BTC] scam websites.

As recently reported that the U.K. Advertising Standards Authority, or ASA, as well as the Internet Advertising Bureau, or IAB, have launched a new system to assist, detect and remove fraudulent online ads.

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