Fake reviews, forged certificates and stolen corporate identities are being used to lure victims, according to a report by verification firm KwikChex. The investigation found that suspected scam investment companies are exploiting Trustpilot's review system by giving themselves five-star ratings to appear legitimate.
One operator posed as a regulated law firm that could help investors recover lost money, despite having no listing with the Solicitors Regulation Authority. Chris Emmins, KwikChex's co-founder, said: 'These scammers see Trustpilot as a vital part of their playbook.'
Scammers are deploying networks of fake reviewers who leave glowing endorsements for multiple linked companies while attacking rivals. Patterns in posting behaviour and language revealed clusters of suspicious reviews. Cross-checks of business information raised red flags such as virtual office addresses and falsified incorporation documents.
Trustpilot responded by launching an investigation and removing several reviews. One company, Crypto-Benefits247, had a 4.7-star rating before some positive reviews were removed, dropping its score to 2.8. The Financial Conduct Authority has warned that the firm may be operating illegally. Another company, Oakvests Crypto, used a video of a different business's chief executive on its website.
Trustpilot said it takes the integrity of reviews seriously and uses artificial intelligence to spot fake reviews. The company removed 7.4% of reviews submitted in 2024, up from 6.1% the previous year. However, KwikChex has called on Trustpilot to drop its slogan 'find a company you can trust' and stop using 'verified' banners on reviews.
