Sadly, an increasing number of people are becoming victim to scams so it is more important than ever to remain on your guard. Victims of pension fraud, for example, lose an average of £75,000*, so falling victim can be a life changing experience and certainly not one for the better!
(*Source – Action Fraud 2021)
In general terms, the golden rule is that if it sounds too good to be true, it probably is. Furthermore, never respond to uninvited calls, texts or emails.
You can find detailed support regarding scams and how to protect yourself on the Financial Conduct Authority’s (FCA) website https://www.fca.org.uk/scamsmart
The information provided includes:
- How to spot the warning signs of a scam
- How to check if a firm or individual is regulated by the FCA
- How to protect yourself
- Common financial scams
- Common investment scams
- Unregulated investment scams
- What to do if you have been scammed
- How to contact the FCA if you have any concerns re a potential financial scam
Clients of Gracechurch Wealth Management should always contact their adviser if they have any doubts as to the bona fide nature of an approach made to them, prior to any action being taken.