The FCA is closely monitoring the coronavirus (Covid-19) situation and are advising on the steps you can take to stay aware of any possible impact on your finances from scammers.
The FCA will be providing regular advice for consumers and firms on the FCA Website.
Be aware of new tactics…
Watch out for scams related to coronavirus (Covid-19). These scams take many forms and could be about insurance policies, pensions transfers, or high-return investment opportunities, including investments in cryptoassets.
Interpol Secretary-General Jürgen Stock has commented: “Criminals are exploiting the fear and uncertainty created by COVID-19 to prey on innocent citizens who are only looking to protect their health and that of their loved ones.”
“Anyone who is thinking of buying medical supplies online should take a moment and verify that you are in fact dealing with a legitimate, reputable company, otherwise your money could be lost to unscrupulous criminals,” he added.
Scammers are sophisticated, opportunistic and will try many things. They are also very likely to target the vulnerable. Beware of investments that appear to be too good be true. If you decide to invest in something offering a high return or in a cryptoasset, you should be prepared to lose all your money.
To help protect yourself you should:
- Reject offers that come out of the blue.
- Beware of adverts on social media channels and paid for/sponsored adverts online.
- Use the FCA Register and Warning List to check who you are dealing with.
- Do not click links or open emails from senders you don’t already know.
- Avoid being rushed or pressured into making a decision.
- Call back existing providers who call you unexpectedly.
- Not give out personal details (bank details, address, existing insurance/pensions/investment details).
If you suspect a scam, call Action Fraud straight away on 0300 123 2040.