Bromley Trading Standards is advising residents who may be looking to invest their savings to stay vigilant against scams.
Whilst many residents may be looking to maximise their returns through investment opportunities, fraudsters will try to take advantage of investors. The advice is to be wary, especially when greater returns are being offered.
Follow these steps to avoid falling victim to investment scams:
- If you are contacted unexpectedly by a financial business or individual, firstly check that they are registered with the Financial Conduct Authority (FCA) on the FCA website.
- If you can't find a firm on the Register, call the FCA on 0800 111 6768.
- Be wary of celebrities who appear to be endorsing investments - fraudsters may impersonate well-known people.
- Don't provide personal details or bank details until you have made your own checks.
- Don't be rushed into signing up to any investments, even if you think you might miss out on a good deal. Fraudsters may urge you not to talk to your family or friends.
- Hang up if someone is calling requesting that you give them money or your personal details.
- Remember that fraudsters can imitate legitimate investment companies' websites.
- Don't allow anyone access to your devices. To 'assist' you with your investments, fraudsters may ask you to download screen sharing apps or software (also known as remote access). Once you allow access to your screen, fraudsters can take control and access all of your personal information including your online banking.
Make sure you understand everything completely and, if in any doubt, stop and seek advice.
What to do if you think you’ve been scammed
Protect from further risk:
- Call 159 - a secure service that connects you directly with your bank.
- Change any relevant log-in details.
- Check for viruses if scammed via a device like a laptop or tablet.
Check if monies can be recovered:
- If money has been lost, depending on the circumstances, there may be ways to get reimbursed.
- Visit the Citizens Advice website for advice on how to recover lost money.
Get advice and report the scam:
- Call the Citizens Advice consumer service line at 0808 223 1133.
- Report the scam to Action Fraud.
It is also important to open the conversation about scams and sharing experiences with friends and family. By letting them know, they can be prepared, and a collective effort can be made to put a stop to scams.
Report and advice
Protect yourself and others by reporting incidents.
Visit the FCA website for more advice on how to protect yourself from scams.
The FCA provides a warning list of unauthorised firms to avoid.
Report to Action Fraud on 0300 123 2040 or on the Action Fraud website.
Contact Citizens Advice for help and advice on 0808 223 1133 or on the Citizens Advice website.
You can also visit the scams page on the council website for more information.
Bromley Trading Standards
To keep up with the latest scam alerts and warnings from Bromley Trading Standards sign up on www.bromley.gov.uk/TradingStandardsAlertSignUpForm.
Bromley Trading Standards also runs a fair-trader directory to help you find a safe, reliable trader that you can trust, visit www.bromley.gov.uk/tradingstandardschecked to learn more.