THE National Fraud Intelligence Bureau has reminded investors fraudsters are still active and using various methods to dupe victims into investing in fine wine.

While it might be easy to identify a fraudulent investment in non-existent fine wine, there is another tactic which is much harder to detect which relies on limited knowledge of the investor in this specific area.

In many cases, the fraud relates to the value of the wine as opposed to the existence of the wine.

Therefore, fraudsters will be able to prove to the victims they have the wine in stock, but the wine in stock will be significantly cheaper than the inflated price the fraudsters ask the victims to pay.

While it may look like a “real deal”, the dramatically inflated prices make the promise of any returns unrealistic.

Assessments of reports show that fraudsters charge victims an average of 47 per cent more than the comparative market values at the time of sale.

The brokers who typically cold call victims boast that an increasing market in China will guarantee tax free profits.

When questioned about risk, fraudsters will convincingly say that it is “extremely low.”

If you believe that you have been a victim of fraud you can report it online at www.actionfraud.police.uk/report_fraud or by telephone on 0300 123 2040.

The National Fraud Intelligence Bureau, identifies serial fraudsters, organised crime gangs and emerging and established crime threats by analysing millions of reports of fraud.