FIVE Borders residents have lost a combined total of more than £220,000 to scammers over the last two weeks, police have revealed.

Officers say the incidents, three of which were investment scams, were reported between May 26 and June 9.

They involved fake online companies fraudulently claiming they will invest a person’s money, according to Police Scotland.

Detective Sergeant Jamie Gilmore of Galashiels CID said: “Investment scams are the most profitable form of cybercrime affecting Scotland and a large number of these scams use cryptocurrencies.

“I’m urging people to be vigilant when it comes to investment and always be wary of any offers which appear to be too good to be true. It’s just not worth the risk.”

Two of the scams police are investigating involved phone calls from fraudsters claiming to be from a reputable company and a bank. 

They pressured the victims into providing bank details and passwords, as well as making bank transfers and payments.

DS Gilmore added: “I also want to urge people to take the time to verify the identity of anyone who calls out of the blue claiming you owe them money, or that there is a problem with your banking.

“Please do not feel pressured to act then and there. Hang up, find a legitimate number for the company in question and call back on your own terms to check the claims being made.”

For more advice, visit Police Scotland’s website at