New Investment Scam – please beware

  • 26th January 2021

We have been made aware of a scam where fraudsters are purporting to be from the Financial Conduct Authority (FCA) or law enforcement, advising that a specific investment manager or firm is under investigation.

The fraudsters are asking clients not to speak to their adviser, family or friends in relation to this as it would be classed as ‘tipping off’. The client is then advised to encash their portfolio and move the funds to their bank account. The fraudster then ‘recommends’ an investment which is a scam.

What to be aware of

Scammers often hack into email accounts and track email exchanges to gather information. Therefore make sure you keep your email security measures up to date.

Scams often use fake email addresses and websites. Look out for bad grammar or email addresses and names you are not familiar with. Do not click on a link within an email unless you are 100% confident of the source.

The email will often ask you to do things in secret or quickly.

If you are in any doubt whatsoever, check on the FCA website. They have a warning list you can check.

This is a particularly worrying scam as they are using the threat of ‘tipping off’ to scare the individual into action. If you are at all concerned do contact one of the above organisations for advice.

Any news or resources within this section should not be relied upon with regards to figures or data referred to as legislative and policy changes may have occurred.

Information contained within this article is not a personal recommendation of Forrester Boyd Wealth Management. The wording in this article is not to be construed as an offer or advice. We recommend you seek advice concerning suitability from your investment adviser.