'London is fast becoming the jurisdiction of choice for these types of fraud claims' – Pinsent Masons

Multinational law firm Pinsent Masons has shone a light on a burgeoning area of law – fraud relating to non-fungible tokens (NFTs).

Pinsent Masons said NFT fraud is growing in the UK, with 10 cases reported to Action Fraud in 2021, an increase from just two in 2020.

Hinesh Shah, Pinsent Masons’ senior associate forensic accountant and financial crime investigator, said the number of NFT related frauds is likely to be far higher than the numbers reported to the police.

Shah said he expects fraud relating to NFTs to grow rapidly in the coming months, as the publicity surrounding NFTs continues to attract inexperienced investors into the sector.

“Genuine stories about the windfall profits individual...

Suzanne Townley
News Editor
Solicitors Journal

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