Protecting yourself from scams

Scams can be difficult to spot and are sophisticated in nature, so if it sounds too good to be true it probably is.

How to spot the warning signs

• Is it unexpected? Scammers often call out of the blue. They may also try and contact you via email, text, post, social media, or even in person.
• Do you feel pressured to act quickly? Scammers might offer you a bonus or discount if you invest quickly, or they may say the opportunity is only available for a short time.
• Does the offer sound too good to be true? Fraudsters often promise tempting rewards, such as high returns on an investment.
• Is the offer exclusively for you? Scammers might claim that you’ve been specially chosen for an investment opportunity, and it should be kept a secret.
• Are they trying to flatter you? Scammers often try to build a friendship with you to put you at ease.
• Are you feeling worried or excited? Fraudsters may try to influence your emotions to get you to act.
• Are they speaking with authority? Scammers might claim that they’re authorised and often appear knowledgeable about financial products.

How to protect yourself

• Treat all unexpected calls, emails and text messages with caution. Don’t assume they’re genuine, even if the person knows some basic information about you.
• Hang up on calls and ignore messages if you feel pressured to act quickly. A genuine bank or business won’t mind waiting if you want time to think.
• Check your bank account and credit card statements regularly.
• Consider getting independent financial advice or guidance before a big financial decision.
• Do you own checks before investing by checking Financial Conduct Authority Warning List and the Financial Services Register to establish if the person you are dealing with is genuine.

Find out more at www.fca.org.uk/ScamSmart