Investment scams and fraud
Even experienced investors can fall victim to scammers. Find out what to look out for.
Being scammed can be very distressing, and the impact is often emotional as well as financial. If you've been scammed, you're not alone, and there's support available.
You may be worried that someone you know is being scammed. Look out for these warning signs:
Some people don’t realise they're being scammed, or refuse to believe it. They may feel that the scammers are their friends, or that their returns or prizes will come through if they continue to respond. This can make it very difficult to talk to them about getting help.
Raise the subject with them sensitively – you could try asking them about the calls and mail they receive. See if they might be willing to register for the Mail Preference Service and the Telephone Preference Service to help block some of the calls and mail.
If you're worried that an adult who needs care and support has been affected by a scam, you can tell the local council’s adult social services department. They'll make safeguarding enquiries and work to make sure that person is protected.
Often when we talk about scams, we discuss them in financial terms and don't talk about the emotional impact they can have. But they can leave us feeling embarrassed, unsettled and unsafe, and have a lasting impact on our confidence. They can also leave us feeling unsure about who we can trust.
But if you've been scammed, it's important to reach out and talk about what's happened. It's nothing to feel embarrassed about – these scams are increasingly sophisticated and are purposefully designed to steal your money by posing as people or organisations you trust.
They can catch you on a day you're busy doing something else, or just having one of those days. We've all had them.
We offer support through our free advice line on 0800 678 1602. Lines are open 8am-7pm, 365 days a year. We also have specialist advisers at over 120 local Age UKs.
Even experienced investors can fall victim to scammers. Find out what to look out for.
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