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Scam checks see a huge increase

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07/12/2018

The number of people making scam checks on their investment has seen a huge increase, thanks to the Financial Conduct Authority (FCA).

Scam checks

The FCA is making huge headway in helping people find out if they have been scammed. Earlier this year, the regulations body launched a campaign, shining a light on common scam techniques. The campaign promoted the FCA’s website for users to check if they have been scammed.

Since the start of the campaign, scam checks are up by 462 percent compared to the same period before the launch. The success of the campaign means that many are on their way to taking back what’s theirs from the scammer.

Smart scams

We have found that in many cases, consumers don’t even realise they’ve been scammed until they see a similar situation. Scammers use highly sophisticated techniques and even the most experience investor can fall victim.

If the following sounds familiar, you may have been scammed.

A stranger calls you out of the blue and asks about your pension. You’re very wary about this unsolicited call, but you are drawn into conversation. The person on the other end of the line is well-spoken, seems knowledgeable and it doesn’t sound like they’re in a call centre.

You agree with them that it would be great to have a little more saved for retirement – who wouldn’t want more money? That’s when they offer you a free pension review. They don’t ask for your bank details, so it’s not like they’re trying to take anything away.

They check your pension and the verdict is in – your pension will never be enough to retire on! The worry sets in but lucky for you, your savvy friend on the phone has the perfect plan for your pension. They offer an investment in the latest scheme that everyone is desperate to get in on. Their forestry, or overseas property, or storage pod scheme is just perfect for you. It’s completely safe and best of all, offers massive returns! You entrust your pension pot to the person and it’s placed into an investment scheme.

Some way down the line, you see news that your investment has collapsed. You try to get in touch with your adviser for an update, but the phone number no longer exists. Your entire life savings have gone, and you don’t know what to do.

Reclaim your money

Many don’t realise that they’ve been scammed until it’s too late for them to do something, which is where we step in.

Our knowledge and expertise will help you get the money back. We can prepare your complaint to bodies such as the Financial Ombudsman Service, managing the full process from end to end.

We can also litigate on your behalf, taking your pension or investment provider through the courts to ensure you get the compensation you deserve.

If you feel you may have been scammed, get in touch. We can assess your investment and offer support and advice to get your money back.