Money-saving expert Martin Lewis has issued a stern warning to the public after yet another online scam falsely used his name and image to promote fraudulent financial schemes. Responding to a concerned social media user who shared a screenshot of the fake ad, Lewis replied bluntly with just four words: “I don’t do ads”.
In post on X (formerly Twitter), Lewis added: “No it’s a scam by criminals. Nothing to do with me. It is trying to steal your money. Do not trust any advert with me in (hence my profile pic). I don’t do ads!”
His current profile picture reinforces this message, emblazoned with the warning “I don’t do ads” to help protect consumers from being misled.
Despite his consistent efforts to distance himself from commercial endorsements, Lewis’s name and face are regularly hijacked by scammers hoping to cash in on his credibility.
These fraudulent ads often link to fake news articles impersonating trusted media outlets like the BBC or The Mirror, complete with fabricated quotes and images, falsely implying Lewis is promoting everything from binary trading platforms to energy discounts and even boiler schemes.
In one case, a victim lost nearly £19,000 after investing in a fake trading scheme supposedly recommended by Lewis.
Another woman, featured in a Sunday Mail article, claimed to have invested over £150,000 in a similar scam. These examples are not isolated.
According to evidence submitted to Parliament by MoneySavingExpert.com, thousands of people have been affected, with many left financially devastated.
The team behind MoneySavingExpert.com has repeatedly called on platforms such as Facebook to take more responsibility.
While some fraudulent pages have been removed, Lewis says the process is slow and ineffective, with new scam ads quickly taking their place.
He has criticised the social media giant for failing to use tools like facial or text recognition to flag and block these misleading promotions before they go live.
“This is not a PR issue, it’s a consumer protection crisis,” Lewis said.
He continues to urge the government to introduce tighter regulation of online advertising and hold platforms accountable for the scams they allow to proliferate.
Until then, he has reiterated his four-word warning: “I don’t do ads.”
No Comment! Be the first one.