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Overview
Investment scams
Be wise. Don’t fall prey to too-good-to-be-true, high-pressure, deadline-driven offers.
What is an investment scam?
An investment scam is a fake - but extremely appealing and highly convincing - investment opportunity. Fraudsters will impersonate real people from genuine financial services firms over the phone, email, online and post. Known as 'clone firms' they’ll do all they can to get you to invest - fast.
The coronavirus outbreak has affected all kinds of companies, including those listed on the stock market. As a result, markets have been volatile and are likely to remain so for a while. It can also lead to an increase in scams, as unscrupulous people try to take advantage of the situation.
Fidelity will never cold call you offering investment opportunities.
Spotting and avoiding investment scams
If you think an offer is suspect, stop for a second. Run through this check list. And never give up your bank details or make payments.
Unrealistic returns
The promise of high returns from alternative or unregulated investments should raise alarms.
Unexpected contact
Any cold calling by phone, email, online or post should be treated as highly suspicious. Don’t forget, you can always hang up.
Flattery and time pressures
If it’s an invitation-only opportunity or you need to act quickly. They may even ask you to keep quiet about it too. Be very wary and don’t make hasty decisions.
Professional
Fraudsters will use glossy brochures, websites, fake reviews, or trained callers with scripts - anything they can to appear convincing. Check if the firm is registered with the relevant authority.
On the list
Fraudsters share lists of previous scam victims to commit recovery fraud. They contact people on these lists, to recover lost monies, or sell their worthless investments - and charge an advance fee.
Common investment scams
These include anything from carbon credits and fine wines, to storage, land and gold and jewels, as well as investments in shares, bonds, cryptocurrency, foreign exchange and binary options.
Reporting fraud
Don’t suffer in silence
We’re here to support you. If you’ve any fraud-related questions about your FEPP account, don’t hesitate to contact us.
Contact usVictim of fraud?
Within the EU member states, you can report Cybercrime to Europol or contact your local Law Enforcement Agency.
Report nowOther threats to watch out for
Fraudsters are highly committed to their cause. By knowing what they’re up to, you can play them at their own game.
Suspicious emails and phone calls
Learn how to spot a fraudulent email or phone call, so you’re not reeled in.
Pension fraud
All that glitters isn’t gold. Discover how to dig deeper and protect your pension with our tips.
Financial abuse
Find out more about criminal influence, to ensure you’re in control of your financial purse strings.
Identity theft
Look beyond the disguise. Impersonation can be the first step to someone stealing your assets.