New figures from Action Fraud have shown that fraudsters are taking advantage of people’s fears at this vulnerable time to get hold of their hard earned money.
The national fraud reporting centre said that reports of scams had increased by 400% in March4, mostly due to a sharp increase in online shopping scams centring around the sale of personal protective equipment (PPE) or hand sanitiser, which subsequently failed to arrive. Other types of scam reported included phishing, investment fraud and lender loan fraud. Keep your cash where you can see it. The government has released advice5 to help you keep yourself and your money, safe from fraud. This includes checking the company’s credentials via a reliable source such as the FCA’s Financial Services Register, not clicking on links from unknown senders, being wary of deals that sound too good to be true, not giving out personal details and seeking professional financial advice before making any decisions. Guidance in uncertain times Anxiety and stress can make us more vulnerable to fraud, so make sure you come to us before making any big financial decisions. We’re here to keep you and your finances safe during this period of uncertainty.
4Action Fraud, 2020
This material is for information purposes only and does not constitute a sales offer or financial advice. Before taking out any insurance or any other financial product, you must obtain individual advice regarding your requirements and general policy conditions. The presented information & data are valid at the time of publishing.
Source: Quilter Financial Planning – Essentially Mortgages Q2 2020