This week is Citizens Advice’s Scams Awareness campaign – aiming to raise awareness about scams, how to avoid them and what to do if you become a victim of scammers.
Check if something might be a scam – Citizens Advice
The theme for this year is financial and investment scams and we’d like to share our advice for avoiding these common types of scam.
Our key messages on how to stay #ScamAware
• There are a number of financial and investment scams in the market. For example, we’ve already seen instances of scammers posting fake investment opportunities across social media
• Anyone can fall victim to a scam. People of all ages and backgrounds get scammed. It’s important to be on your guard – if you’re not sure about something, take your time and get advice
• If you think someone might be trying to scam you, it’s important to act straight away. If you need advice and support you can call the Citizens Advice consumer service on 0808 223 1133 or visit www.citizensadvice.org.uk. You should also report scams or suspected scams to Action Fraud
Financial and investment scams – how to steer clear and protect yourself from scammers
There are lots of different types of scams emerging. Some examples to look out for include:
• Scammers posting investment opportunities on social media that offer large profits. These profits were never shared with consumers, despite them investing more money or paying large fees
• Fraudsters using high pressure sales techniques to get vulnerable consumers to invest in their schemes
How to protect yourself from investment scams
• Check for language such as ‘loophole’ or ‘guaranteed returns.’ These can be warning signs of a scam
• Don’t be rushed into signing up, even if you think you might miss out on a good deal
• Do not provide personal details or bank details straight away
• If you’re contacted unexpectedly by a financial business or individual, make sure you reply using the contact details on the Financial Services Register fca.org.uk/firms/financial-services-register. If you can’t find a firm on the Register, call the FCA on 0800 111 6768
• Scammers may imply that they know you have a friend that has signed up for the investment opportunity by using common names to create familiarity or trust. Don’t engage with callers using this method
• If you think someone is calling to trick you into giving them money or your personal details, hang up and call 159. This is a secure service that connects you directly with your bank. Find out if your bank uses this service at stopscamsuk.org.uk/159
• Scammers sometimes clone legitimate investment companies, using their own phone number and website details. You can visit the Financial Conduct Authority (FCA) website fca.org.uk to check if an investment opportunity has been reported as a scam and check if an investment company is registered with the FCA
What to do if you have been scammed
If you have been scammed, there are three steps you need to take:
1. Protect yourself from further risks
There are things you can do to stop things getting worse. You should contact your bank immediately to let them know what’s happened. You should also change any relevant log-in details, and check for viruses if you were scammed on a computer.
2. Check if you can get your money back
If you’ve lost money because of a scam, there might be ways you can get it back. Depending on the circumstances, you might be able to get your money back if you get in touch directly with the method by which you’ve paid, such as card, Paypal, Direct Debit or bank transfer.
3. Report the scam
Reporting scams helps authorities stop the criminals responsible, and protects others from being scammed. Anyone who’s been scammed should:
• Call the Citizens Advice consumer service on 0808 223 1133. We’ll pass on details of the scam to Trading Standards, and can offer further advice
• Report the scam to Action Fraud, the national reporting centre for fraud. They’ll also give them a crime reference number, which can be helpful if you need to tell your bank you’ve been scammed
What to do if you’ve been scammed – Citizens Advice
It’s also important for us to all talk about our experiences with family and friends. By letting them know what’s happened they can be prepared, and together we can put a stop to scams.
If you need help Contact Citizens Advice South Gloucestershire via their drop-in sessions or call their free Adviceline on 0808 278 7947.