Coronavirus – protecting yourself from scams

We wanted to highlight to clients that there is evidence that fraudsters are taking advantage of the current situation with regards to Coronavirus. https://www.actionfraud.police.uk/alert/coronavirus-related-fraud-reports-increase-by-400-in-march

The Financial Conduct  (FCA) has recently given advice about these scams, and shared some tips to help avoid them.

Watch out for new scams about coronavirus

Scammers will target anyone but especially those who are vulnerable and they use many sophisticated, opportunistic ways to get hold of your money or sensitive information.

Scams could be about insurance policies, tax refunds, pension transfers and offers of high risk investments.

To avoid falling victim to a scam, please ensure that you:

• Reject offers that come out of the blue.
• Beware of adverts on social media channels and paid for/sponsored adverts online.
• Beware of investments that appear to be too good be true. You could lose all your money.
• Before making an investment, use the FCA Register and Warning List to check who you are dealing with.
• Avoid being rushed or pressured into making a decision.
• Call back existing providers who call you unexpectedly on the number on their official website
• Not give out personal details (bank details, PIN for your card, email address, password, address or existing insurance/pensions/investment details).

If you believe EFG has made contact with you please make sure that it is actually us, if you have received unexpected messages, emails or calls please contact your Investment Manager on the telephone number that you would normally dial regardless of any new details contained within email/message or alternatively email Fraud@efgl.com.

If you believe that you have been scammed or your email address compromised it is imperative that you contact us straight away so that we can trace any funds that may have left your account, please email your Investment Manager who will contact you using the contact details they hold for you. 

To report a potential scam please call Action Fraud straight away on 0300 123 2040, or the FCA Consumer Helpline on 0800 111 6768.