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Fake savings ads: ‘One of the most sophisticated scams we have seen’

People tricked into depositing cash which is then siphoned off by fraudsters impersonating financial firm Wise and others

With interest rates falling, you are hunting for the best home for your cash, so when an advert for a generous fixed-rate savings account offered by a leading financial brand pops up, you sit up and take notice.

But it is a scam – one where Britons are being tricked into depositing their nest-egg cash, only for the money to be siphoned off by fraudsters who are impersonating a financial company – in this case, the money transfer company Wise.

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