Take Care - Be Scammer Aware

As if dealing with impacts of Coronavirus is not enough, the crime economy seems to be thriving – at your expense.  It is more important than ever not only to wear a mask and socially distance to avoid Covid-19 – but be very wary of unsolicited calls and emails to avoid getting scammed.

The Financial Conduct Authority (FCA) has issued 1,031 scam warnings so far this year, which is already 80 per cent higher than last year’s total. At Ethical Futures, we have become aware of a persistent and sophisticated phone scam that attempted to get a client to transfer all of their money from investment funds to the scammers bank account. The scammers purported to be the FCA and were ‘warning’ the client that we, and the investment firm concerned, were under investigation (not true by the way). Luckily, the client eventually realised something was not quite right – but not before instructions to transfer funds had been sent to us. We immediately realised something was not right and sought to intervene.

It is partly for this reason that we do accept email instructions and have moved our communication of sensitive information onto our client portal or protected messaging.

How to protect yourself against scams

  • Avoid any unexpected contact. Firms or the police will not call you and ask you to move money from one account to the other...
  • Never give out personal information...
  • Keep operating system and virus protection software up-to-date...
  • Make sure all accounts have a strong password...
  • Don't make any advanced payments until you are sure the company you're dealing with is legitimate. 

Criminals are always creating new ways to try and separate you from your money. Therefore, we urge you to take care. We suggest that you take some time to read the Money Advice Service ‘Beginners Guide to Scams’   https://www.moneyadviceservice.org.uk/en/articles/beginners-guide-to-scams and check the FCA Scam smart site https://www.fca.org.uk/scamsmart for updates on scamming activity.

Stay safe – take care.

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