Fraud

Caveat emptor: ‘let the buyer beware’

Caveat emptor: ‘let the buyer beware’

Increase in victims of financial scams related to COVID-19 As a result of the coronavirus (COVID-19) pandemic, there has sadly been an increase in the number of fraudsters exploiting people’s fears, targeting pension savers, investors and online consumers. New research reveals one in five (22%) have received emails, texts, phone calls and other communications that mentioned coronavirus and which they suspected to be a financial scam – which equates to around 11.7 million people in …

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Get-rich-quick schemes

Financial fraud nets millions for organised crime scammers Fraudulent get-rich-quick schemes are netting millions for organised crime. But investment scams can be difficult to spot because they’re designed to look like genuine investments, with most scammers having a professional-looking website and documents. In the first six months of this year, across all categories of financial fraud, a total of £207.5 million was stolen from almost 60,000 people, according to UK Finance, an industry body. Increasingly, …

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Protecting your identity

Common ways fraudsters can steal your personal information As individuals, throughout our lifetime we exchange personal information with a vast number of institutions including banks, credit card suppliers, utility companies, supermarkets, government organisations and retailers. This may be to receive important services, but also to allow us to do the fun things like shopping, eating out or going on holiday. Fraudulent or stolen identities being used to make false applications for credit cards or loans, …

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Protecting yourself from scams

Fraudsters are using sophisticated ways to part savers from their money Pension and investment scams are on the increase in the UK. Everyday fraudsters are using sophisticated ways to part savers from their money, and the Internet and advances in digital communications mean these kinds of scams are getting more common and harder to identify. A lifetime’s savings can be lost in moments. Nearly one in ten over-55s fear they have been targeted by suspected …

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