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ANNOUNCEMENT: Read more financial articles on our partner site, click here to read more.

Plague of scams prompts more warnings

By Kirsten Hastings, 21 Sep 17

The UK’s Financial Services Compensation Scheme (FSCS) is the latest body to warn consumers that scammers are using its reputation in a bid to defraud them.

Advisers cool in face of sell off

Describing such scams as “one of the plagues of modern life”, an FSCS spokesperson said: “They prey on people and try to lure them into handing over their personal information on the promise of riches.”

Delete, delete, delete

In its warning, the scheme advised recipients not to respond to the emails or provide any information.

The FSCS said it does not approach people in this manner and that the email should be deleted immediately and the sender blocked.

Official emails will only ever end with @fscs.org.uk and any other ending is not from the scheme.

Additionally, customers will never be asked for money or fees to make a claim for compensation.

“Don’t let scammers get away with this,” the FSCS said. “[We] will never approach you in this way. Stay safe. Do not respond to these emails or provide any personal information.”

Chorus of scam warnings

The month of September has seen a whole host of warnings from various industry bodies to be mindful of pontential threats.

The Pensions Regulator (TPR) issued a warning that rogue pension websites are carrying anti-scam messages to try to trick UK consumers into believing they are legitimate businesses.

The warning from TPR followed measures to impose a ban on pension cold-calling to help prevent potential victims being conned out of their savings.

The founder of website MoneySavingExpert.com, Martin Lewis, took to YouTube this month in a scathing video that lambasted dodgy companies and scammers that are “trying to leach off the hard-earned reputation” of himself and his website.

One particularly distasteful scam, highlighted by Action Fraud this month, warned of scam victims being retargeted by fraudsters posing as anti-scam officers.

Tags: Cold Calling | FSCS | Martin Lewis | Scams

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.