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Suspected scam investment companies are exploiting Trustpilot’s review system by giving themselves five-star ratings to persuade would-be investors that they are legitimate businesses, a report has warned.

An investigation by the verification firm KwikChex found operators using fake reviews, forged certificates and stolen corporate identities to lure victims.

One operator posed as a regulated law firm able help investors recover lost money, despite having no listing with the Solicitors Regulation Authority (SRA).

“These scammers see Trustpilot as a vital part of their playbook,” said Chris Emmins, KwikChex’s co-founder.

According to the report, scammers are deploying networks of fake reviewers, who leave glowing endorsements for multiple linked companies while attacking rivals.

Patterns in posting behaviour and use of language revealed clusters of suspicious reviews, while cross-checks of business information raised red flags such as virtual office addresses and falsified incorporation documents.

In many cases, KwikChex said it had discovered the scam companies using cloned websites and counterfeit certificates.

Trustpilot responded to the report by launching an investigation and removing several reviews that had a significant impact on the companies’ ratings. One review page was also taken down.

Fake reviews have become a business, with companies dedicated to selling positive or negative feedback online.

In response, regulators such as the UK’s Competition and Markets Authority have made it illegal to commission or host fabricated feedback. These measures are aimed at restoring consumer confidence, but critics have questioned whether the marketplace can be policed, because of its sheer scale.

Trustpilot uses artificial intelligence software to spot fake reviews. The company removed 7.4% of reviews submitted in 2024, compared with 6.1% the year before.

The vast majority of removed reviews were taken down automatically by AI as it identified patterns that flagged concerns.

One company that carried a 4.7-star rating was Crypto-Benefits247. After the company was flagged by the Guardian, Trustpilot removed some of its positive ratings and its score fell to 2.8. The Financial Conduct Authority has warned that the firm may be operating illegally. KwikChex found Crypto-Benefits247’s incorporation certificate was a forgery, crudely edited from another company’s legitimate document.

There is a one-star score from someone who said they lost more than £65,000 to Crypto-Benefits247 after being lured in with small, successful withdrawals before the company began inventing fees for certificates, upgrades and “activation keys”.

Another company, Oakvests Crypto, had a 4.5-star score but used a video of the chief executive of a different business, Oakvest, on its website. Oakvest’s finance director, David Wells, said: “We are grateful to KwikChex for alerting us to this identity theft and wish them success in tracking down the fraudsters.”

Since the account was flagged to Trustpilot, Oakvests Crypto’s rating has dropped to 3.2, with a number of reviews taken down.

Quantum Recovery Law Group, rated 4.1 stars from 82 reviews, presented itself as a wealth recovery law firm. The SRA has issued a scam alert against it. Trustpilot removed the account after being presented with the findings of KwikChex’s report.

The exact names of companies are used in this article, as such entities often imitate or reference real businesses.

Emmins said: “The successful use of fake reviews undermines every legitimate business that works to earn a genuine reputation. Meanwhile, scammers use Trustpilot to polish their lies.”

KwikChex has called on Trustpilot to drop its slogan “find a company you can trust” and to stop using “verified” banners on reviews, warning that the platform’s system is too easily exploited. In response to this specifically, Trustpilot said: “As we have not seen the mentioned report we cannot comment on its findings at this time.”

None of the companies identified by KwikChex responded to the Guardian’s attempt to reach them for a comment.

A spokesperson for Trustpilot said it takes the integrity of reviews extremely seriously, adding that its systems were always learning and it did not “always get it right”. They said that was why the community was encouraged to flag suspicious reviews.

“We have previously taken action against the companies mentioned, removing fabricated reviews and issuing both warnings and legal cease and desist letters for guideline breaches,” the spokesperson said.

“Since further concerns have been raised we have launched a deeper investigation and removed further fabricated reviews from each profile. Each profile now displays a consumer alert, warning consumers about these companies. Our investigation is ongoing.”

Trustpilot said it was continuing “strengthening” its systems to stay ahead of “evolving tactics”.