The last few years have seen an increase in scam activity. Scammers are looking to take advantage of people’s fears and uncertainties in the current cost of living crisis, by making false promises with unrealistic guarantees. Here are a few tips to help you stay safe from scammers:
Know who you’re talking to. Genuine organisations won’t contact you out of the blue. And even if you’ve approached an adviser directly, you should still check their credentials. You can use the IFA register at www.fca.org.uk/firms/financial-services-register to check that they’re registered. You can also confirm that an individual adviser definitely works for the company they say they’re part of by checking the details on the register to confirm.
Be safe online. Scammers use any personal information they can find online to steal someone’s identity and access accounts. Make sure you never put your personal details into a website you don’t know and make sure all your online accounts have strong passwords and you change them regularly.
Take your time. Don’t feel rushed or pressured into making a decision. Read and digest all the information you’re given and take the time to speak to a regulated financial adviser.
You can find out more information by going to the ScamSmart website – an FCA hub for information on how to avoid investment and pension scams. Visit www.fca.org.uk/scamsmart for more information.
You can report a scam to the FCA by contacting their Consumer Helpline on 0800 111 6768 or by using the reporting form at www.fca.org.uk/consumers/report-scam-us
Helpful tips
Have you been cold called about your pension? Put the phone down.
Has someone offered you a once in a lifetime deal? Be cautious!
Have you been offered advice services? Make sure they’re registered with the FCA.
Has someone been recommended by a friend? Whilst always helpful – check their credentials yourself.
Have you been contacted to request verification of your personal information (such as your National Insurance number, date of birth, address or bank account details)? Do not share such information.
Check for any unexpected activity on your bank accounts. Do this regularly.
