Why Is Martin Lewis at the Centre of NatWest’s Latest Scam Alert?
Can the UK’s most trusted money expert also be one of the most exploited names by fraudsters? Martin Lewis, founder of MoneySavingExpert.com, has once again found himself at the centre of a nationwide scam awareness campaign after topping NatWest’s 2024 Celebrity Scam Super League.
The report, published in June 2024, revealed that scammers have been using the image and reputation of Martin Lewis to deceive unsuspecting consumers into fake investment schemes. The warning serves as a reminder of how criminals continue to adapt, using credible public figures to steal money from ordinary people.
NatWest’s annual ranking exposes the extent of the issue and the financial losses linked to such frauds. According to the bank, one customer lost £150,000 after being tricked into a cryptocurrency investment scam featuring a fake endorsement from Martin Lewis. This case topped the year’s list, surpassing those involving Elon Musk, Jennifer Aniston, and Lauren Cohan.
The findings highlight not only the sophistication of online fraud but also the urgent need for stronger consumer awareness and cross-industry collaboration to tackle impersonation scams.
What Is the NatWest Celebrity Scam Super League and What Did It Reveal in 2024?
The NatWest Celebrity Scam Super League is an annual analysis of fraud cases where criminals use celebrity names and images without consent to promote fake investments. The 2024 report uncovered that Martin Lewis once again led the rankings, followed by high-profile international figures.
The top three celebrity scams were linked to:
| Rank | Celebrity | Average Loss Linked to Scams | Typical Scam Type |
| 1 | Martin Lewis | £150,000 | Fake cryptocurrency investment |
| 2 | Elon Musk | £62,000 | AI trading and Bitcoin platforms |
| 3 | Jennifer Aniston | £58,000 | Fake wellness and lifestyle investments |
The total value of the leading scam decreased from £337,000 in 2023, when Peter Jones’s image was misused, but the diversity of names in 2024 demonstrates how quickly fraudsters evolve.
Whereas in earlier years criminals relied on household television names such as Holly Willoughby (who topped the 2021 list), recent scams have shifted towards financially credible and globally recognisable personalities. The move shows how fraudsters adapt to public trust, targeting figures perceived as knowledgeable about money or business.
How Are Scammers Exploiting Martin Lewis’s Name and Image?
Fraudsters are using increasingly sophisticated methods to exploit Martin Lewis’s identity. One of the most concerning developments has been the rise of deepfake videos, which use artificial intelligence to mimic his voice and likeness convincingly.
Victims often encounter fake advertisements on social media platforms such as Facebook, X (formerly Twitter), and YouTube. These ads falsely claim that Lewis is endorsing a new investment opportunity, typically involving cryptocurrency. Once a person clicks through, they are redirected to a fraudulent investment website where they are encouraged to deposit money.
In one case reported by NatWest, a consumer lost £150,000 after receiving a cold call from a supposed investment advisor claiming to represent the “Money Saving Expert.” The fraudsters had found the victim through online searches for investment opportunities and exploited that behaviour to build credibility.
Lewis has repeatedly warned the public that he never promotes or endorses any investment scheme. He has also been vocal about the lack of regulation for online advertising, urging the government and technology platforms to take greater responsibility for removing fraudulent content.
Which Other Celebrities Have Been Targeted by Fraudsters?
The misuse of celebrity images is not limited to Martin Lewis. The 2024 NatWest Celebrity Scam Super League included several well-known figures from different industries.
Among them were Elon Musk, linked to cryptocurrency scams promising unrealistic profits; Jennifer Aniston, used in false wellness investment promotions; Jeremy Clarkson and Lauren Cohan, whose likenesses appeared in fake financial advertisements; and Jimmy Page and Dr Bradley Schaeffer, targeted in similar schemes.
This demonstrates that celebrity scams are not confined to the financial sector. Instead, they exploit public trust wherever it exists. Fraudsters understand that consumers are more likely to click on or believe advertisements featuring famous and respected individuals.
The shift towards using international and financially successful personalities also signals the growing global reach of these scams. Fraud networks now operate across borders, using social media algorithms to find potential victims based on their browsing habits and interests.
How Is NatWest Responding to the Surge in Celebrity Scam Activity?
NatWest has strengthened its anti-fraud strategy to protect customers and increase public awareness. According to Stuart Skinner, the bank’s head of fraud prevention, over one in ten UK consumers around 13% have lost money to scams in the past year.
In response, the bank has:
- Banned direct transfers to cryptocurrency exchanges, reducing opportunities for fake investment payments.
- Introduced real-time scam warnings in its online banking and mobile app.
- Partnered with regulators and consumer advocates to promote public awareness.
- Encouraged collaboration with social media companies to track and remove fraudulent adverts.
Skinner has also called for a united industry approach, stating that it will take joint efforts between banks, regulators, and technology firms to eliminate impersonation scams completely.
What Are the Financial Impacts of Celebrity Scam Campaigns in the UK?
The wider picture is deeply concerning. According to UK Finance, more than £1.3 billion was stolen from consumers in 2023 through various forms of fraud. Of that total, a growing portion involves celebrity and investment scams.
Fraudsters exploit trust, technology, and speed. A social media post can reach thousands of potential victims within hours, and once a person sends money, recovery is difficult. As technology becomes more advanced, deepfakes and AI-driven scams are expected to rise further.
NatWest’s initiative, alongside figures like Martin Lewis, is helping to keep this issue in the public eye, encouraging consumers to question before they invest and to verify before they trust.
What Advice Does Martin Lewis Offer to NatWest Customers and the General Public?
Martin Lewis’s message to consumers is straightforward: caution first, verification always. He has stressed that genuine investment opportunities do not appear in unsolicited ads or cold calls.
Lewis advises customers to rely only on verified banking channels and to report suspicious activity immediately. His guidance includes checking whether investment companies are registered with the Financial Conduct Authority (FCA), using unique passwords, and staying informed through trusted sources like MoneySavingExpert and NatWest’s Fraud Hub.
NatWest reinforces this advice within its own systems. The bank has implemented pop-up alerts that remind customers to pause and consider before transferring money. These in-app prompts are designed to give people a final opportunity to reflect before sending funds to potentially fraudulent accounts.
How Do NatWest’s Anti-Fraud Measures Compare to Other UK Banks?
| Bank | Fraud Prevention Tools | Transfers to Crypto Exchanges | In-App Scam Alerts |
| NatWest | Real-time scam warnings, card reader verification | No | Yes |
| Barclays | Biometric login, AI transaction monitoring | Yes | Yes |
| HSBC | Secure Key device, anti-phishing filters | Yes | Yes |
| Lloyds | Push notification authorisation | Yes | Yes |
NatWest stands out for its firm stance on cryptocurrency transactions, which has significantly reduced cases involving fake crypto investments. However, Martin Lewis continues to emphasise that technology is only one part of the solution; awareness remains the strongest defence.
What Should Consumers Do If They Have Been Scammed?
If a person believes they have fallen victim to a Martin Lewis NatWest scam, immediate action is essential. They should contact NatWest straight away via 159, freeze any affected accounts, and report the incident to Action Fraud through the official government portal.
Victims are also advised to change passwords and monitor credit reports for unusual activity. Many may qualify for reimbursement under the Contingent Reimbursement Model Code, provided they acted in good faith and took reasonable precautions.
It is equally important to share information. Reporting scams helps banks, regulators, and technology companies identify patterns and shut down fraudulent operations faster.
Why Does the Fight Against Celebrity Scams Continue to Grow in Importance?
As online fraud evolves, the exploitation of public figures has become a global issue. Martin Lewis has been at the forefront of calls for tougher regulation, urging digital platforms to take responsibility for paid content appearing on their networks.
He argues that social media companies profit from advertising and should therefore be held accountable for ensuring those advertisements are legitimate. His campaign for transparency and regulation reflects a wider industry movement towards consumer protection.
The success of NatWest’s 2024 campaign shows that while banks can strengthen systems, consumer awareness remains crucial. Fraud prevention depends on individuals being alert, questioning unexpected offers, and verifying information before making financial decisions.
FAQs About Martin Lewis and NatWest
Why do fraudsters use Martin Lewis’s name?
His reputation for trustworthy financial advice makes scams featuring his image more convincing.
What is the Celebrity Scam Super League?
It is NatWest’s annual report ranking celebrities whose names are most misused in scams.
How can I verify if an investment is genuine?
Check the company’s registration on the FCA Financial Services Register before investing.
Does NatWest allow cryptocurrency transfers?
No. NatWest has stopped allowing payments directly to crypto exchanges as a fraud prevention measure.
What should I do if I see a fake Martin Lewis ad?
Report it to the platform and forward the details to report@phishing.gov.uk or Action Fraud.
Are deepfake scams increasing?
Yes. AI tools make it easier for criminals to create realistic videos impersonating celebrities.
How can I stay updated on scam alerts?
Regularly visit MoneySavingExpert.com, NatWest’s Fraud Hub, and Action Fraud UK.
