Beware the scam artists
It’s the start of Citizens Advice’s ‘Scams Awareness Month’ in July, so I’m going to try and highlight a few things to be very wary of.
Stopping the con artists
They are to varying degrees, great at tricking you into something and finding new ways to get you to part with your money. They can be very chameleon like and convincing. Smart suits also don’t always mean honesty. This could easily be your savings, investments or pension. But there are things you can do to help protect yourself.
Being on the look-out can help you prevent a loss and save you a lot of stress and worry. Anyone offering you unusually high returns (the old adage – if it looks too good to be true it probably is) unusual unregulated investments (a tree plantation on Mars) or offering earlier (before age 55 normally) access to pension savings, will often be scams.
Some areas to be aware of generally and regarding financial solutions/products
• Don’t pay for something upfront unless it’s very clearly from a recognised source
• Never give out personal information, including your bank details and NI
• Try and avoid Cold Callers
• Check the Financial Conduct Authority (FCA) online register
• Check the FCA warning list for identified investment scams
• Don’t send money or give your bank details to someone you don’t know
• Never feel pressurised into making a quick decision
• Read any documents very carefully before you sign anything
• Be wary of any text or email asking you to contact via a premium number or access a website
• Do your own research and prep
• Look out for pyramid selling
• Don’t pay a landlord a deposit until all confirmed and deposit is refundable
• Be careful of subscription traps that turn into monthly payments
• Prize draws that you apparently out of the blue have “won”
• Fake websites
• Protect your personal details from identity fraud
For further information