Wine buyers have once again been reminded to source their bottles only from reputable suppliers, after the National Fraud Authority said fine wine investment fraud is costing the UK £38 billion a year.

With returns on wines such as Chateau Lafite Rothschild and Chateau Margaux rising on the back of sustained demand from Asia, investors are in some cases being duped into buying non-existent stock, the Independent reports.

"Wine investment fraud has been on the increase recently because the market for fine wines has been so staggeringly successful compared to returns on the stock market," Gavin Partington, communications director at the Wine and Spirits Trade Association, told the newspaper.

The newspaper advised buyers to carry out background checks on any company that offers an investment opportunity, and only using trustworthy websites to buy wine.

Recently, restaurant owner Denis Lefrancq and his accomplice Jeremy Gillis admitted in Leeds Crown Court to defrauding wine investors out of £380,000.