Fake Wise Scam- The Guardian

23rd August 2025
Posted in Facebook scam, Fraud Awareness, Fraud recovery experts, Legal Help, The Guardian

We contacted The Guardian newspaper to help warn the public about a fake Wise savings scam.

The newspaper ran an excellent article about the Wise scam in which it outlined how it worked.

This scam tended to start on social media platforms such as Facebook and Instagram where fraudsters stole Wise’s logos and pretended that a new savings account was available.

Once an individual responded they would receive a call from scammers posing as Wise employees who guide them through what appears to be a legitimate onboarding process.

Victims were asked to provide identity documents and are then assisted in opening a genuine Wise account. During this process, the fraudsters frequently register two‑factor authentication to their own device, giving them covert control. After funds are transferred into the account, the criminals drain the balance.

The perpetrators are reported to speak fluent English and present themselves with a level of professionalism that makes the deception particularly hard to detect.

Martin Richardson, Senior Partner at Richardson Hartley Law told The Guardian: “This is one of the most sophisticated scams we have encountered. The criminals appear to be investing heavily in social media advertising, and we fear the number of victims may already be in the hundreds or even thousands. Social media platforms must do far more to prevent fraudulent financial adverts from reaching consumers.”

Read the full article: Fake savings ads: ‘One of the most sophisticated scams we have seen’ | Scams | The Guardian