Martin Lewis has admitted he "can't cope" with the growing number of people losing life-changing sums to sophisticated online scams using his name and image, after an email from one victim left him in tears. The consumer finance expert said he was overcome with emotion after hearing from an elderly disabled woman who lost her life savings after investing in a scheme that falsely claimed to have his endorsement.
Emotional Outburst on Social Media
"THEY ARE B******S!" Martin wrote in a social media post about the case, later revealing he had "tears running down my face" after reading her story. Speaking to The Guardian about the incident, he said: "I felt a mixture of frustration, anger and sadness," explaining that his distress was fuelled not only by the woman's losses but also by the "constant, ongoing deluge of shit from the scammers."
Sophisticated Fraud Techniques
Despite repeatedly warning the public that he never advertises investments, Martin says fraudsters continue using convincing AI-generated videos and fake adverts featuring his likeness to deceive victims. He described the personal impact of seeing his trusted reputation exploited, saying it felt "like a slap in the face." The MoneySavingExpert founder said heartbreaking cases arrive so frequently that his organisation now employs a full-time member of staff to deal with victims.
Losing the Fight Against Online Fraud
Asked whether he feels he is winning the fight against online fraud, Martin replied candidly: "Do I feel I'm losing this one? Yes, I am losing it. That's it. I'm losing it." Research analysed by MoneySavingExpert from Action Fraud data suggested victims reported losing more than £20 million to scams featuring Martin during 2024, making him the public figure most commonly used in fraudulent adverts.
Organised Crime Behind Scams
Martin argues the issue goes far beyond isolated fraudsters. "Scammers is not the right word," he said. "This is organised crime. And these are psychologically adept marketing systems." Although legislation has been introduced to make technology companies more accountable for scam advertising, Martin believes progress has stalled. "Absolutely bugger all has been done," he said, expressing frustration that promised consultations have repeatedly been delayed.
Political Inaction
He also criticised politicians for failing to prioritise the issue, saying: "I feel completely let down by the entire political classes." Martin has urged ministers to fully implement existing laws, introduce tougher checks on advertisers and impose heavier financial penalties on platforms that allow fraudulent adverts to appear. "Ultimately, the way you stop scam adverts is very simple," he said. "You make it cost more to publish them than they make from publishing them."
A Personal Encounter
He also recalled a striking encounter with a building caretaker who insisted an investment bearing Martin's image was genuine. "I said: 'I don't have an investment,'" Martin explained, but the man refused to believe him, with the presenter revealing it took more than 20 minutes to convince him the advert was fake. Despite the emotional toll, Martin insisted he refuses to blame himself for the crimes committed in his name. "I have done nothing wrong," he said. "And I can promise myself – which is what matters – that I have done everything anyone feasibly can do to fight this and to get things changed. I will not allow these criminals to bite into my morality."
