People in Helensburgh are being warned to watch out for investment scams amid fears fraudsters are targeting elderly Argyll and Bute residents.

Local officers have identified an increase in fraud victims who have fallen prey to investment scams.

An investment scam is when someone is convinced to move money into a fictitious fund or to pay for what later turns out to be a fake investment which promised a high return.

Victims are usually targeted via cold calls and emails or may come across adverts or links on social media or search engines presenting them with fake investment opportunities.

Many of these scams will have fake testimonies or celebrity endorsements to make them seem more legitimate and will tell people to act fast to make victims behave impulsively.

Criminals often set up cloned websites which claim to be legitimate investment firms and may even send out paperwork with official branding to add a guise of credibility to their scams.

Victims may also receive an initial payment of your ‘returns’ to convince you to invest larger sums of money – which will then be stolen.

Incidents have been reported of scammers targeting residents in Rothesay and Oban, sparking a warning to the wider Argyll and Bute community.

Police Scotland's Argyll and Bute partnership officer, Constable Laura Evans, said: “You can spot an investment scam as normally you are contacted out of the blue by phone, email, or social media about an investment opportunity.

“You might see an advert endorsed by a celebrity offering high returns on investment.

“The scammers may also ask you to deposit a small amount and give you a good return, one we had reported asked the victim to deposit £50 which was doubled within a day.

“This made the victim feel it was then safe to ‘invest’ a much greater sum.

“Scammers will also pressure you into making a decision with no time to consider the investment.”

The public are reminded to ‘stop’ and think before parting with any money, ‘challenge’ and ask questions, and ‘protect’ themselves by reporting the crime to their bank and the police.

If you believe you are the victim of a scam, contact your bank immediately and report the incident to the police by calling 101.