Its dreadful that when the world is on its knees there’s opportunists still looking to make a quick buck! Do not click on any links sent to your mobile or by email.
If you are unsure, contact the provider first and foremost to check the validity.
Here is a list of things published by the FCA to be particularly vigilant about:
- short-term financial concerns, scammers may ask you to hand over an upfront fee – usually between £25 and £450 – when applying for a loan or credit that you never get. This is known as loan fee fraud or advance fee fraud.
- ‘Good cause’ scams. This is where investment is sought for good causes such as the production of sanitiser, manufacture of personal protection equipment (PPE) or new drugs to treat coronavirus – with scammers using the promise of high returns to entice consumers.
- Using the uncertainty around stockmarkets, scammers may advise you to invest or transfer existing investments into non-standard investments.
- Clone firms - firms must be authorised by us to sell, promote, or advise on the sale of insurance products. Some scammers will claim to represent authorised firms to appear genuine. In particular, be aware of life insurance firms that may be cloned.
- Scammers may contact you claiming to be from a Claims Management Company (CMC), insurance company or your credit card provider. They may say they can help you recuperate losses by submitting a claim, for the cost of a holiday or event such as a wedding cancelled due to coronavirus. They will ask you to send them some money or your bank details.
- Cold calls, emails, texts or WhatsApp messages stating that your bank is in trouble due to the coronavirus crisis, and pushing you to transfer your money to a new bank with alternative banking details.
For more information on what you can do to protect your self, please visit the FCA website.