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What is an investment / pension scam?

Criminals use fake investment / pension advertising through online searches or social media sites to target victims and trick them into making payments or ‘investments’. They often promise high returns and persuade them to act quickly to secure a time-limited opportunity.

Things you can do to protect yourself

Completing a few checks before you invest can make all the difference if your investment is unregulated in the UK and the payment is part of a scam, you will not be able to get your money back.

  1. Check it out– use the Financial Conduct Authority (FCA) register and their ScamSmart tool to check the investment and the company are regulated.​
  2. Avoid clones and fakes– confirm you’re dealing with a legitimate registered firm. Only use the contact details for a firm that appears on the FCA register.
  3. Stay in control– research the company first and consider getting Independent Financial Advice (IFA). You should also always check the IFA firm and individuals you’re dealing with are legitimate.​ You should also always check the IFA firm and individuals you are dealing with are legitimate.
  4. Don’t be fooled by a professional website, glossy brochure or even a celebrity endorsement– they do not always mean that an investment opportunity is genuine.​​
  5. We do not provide advice on Crypto currency but, – never allow anyone to set up a cryptocurrency wallet, upload ID or manage investments remotely on your behalf.

To learn more about protecting yourself against investment scams, visit the FCA website. You can also visit Take Five a national campaign offering impartial, straightforward advice.

You can also refer to  The National Cyber Security Centre which will can how you to recognise, report phishing attempts, and protect yourself from scammers  and report emails, texts, websites, adverts or phone calls that you think are trying to scam you. Please refer to The National Cyber Security Centre website for more information.

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