The UK's national reporting centre for
fraud and cybercrime, Action Fraud has received thousands of reports about
Coronavirus (Covid-19) themed scams including cold calls and phishing emails.
Criminals are preying on people isolated from their family and friends to
trick them into revealing sensitive personal and financial information. One
of the recent scam emails pretends to come from HM Government asking for
donations to help the NHS treat people affected by the Covid-19 pandemic.
Action Fraud has warned the public to be on their guard and that any money
sent will end up in the hands of criminals, not the NHS.
Three
steps to protect yourself from scams
Step one - Stop!
Taking a moment to stop and think before parting with your money or
personal information. Always be suspicious and on your guard to keep
yourself safe and protect yourself from scammers.
Step two -
Challenge
Ask yourself - could this be fake? It's ok to reject,
refuse or ignore any requests your receive. Only criminals will try to
rush or panic you, and something which sounds to good to be true, probably
is.
Step three - Protect
If you think you have been the
victim of a scam on the policy you hold with us contact Phoenix Wealth
using the contact details on our contact page. It's important to notify your bank
and report scams to Action Fraud by calling 0300 123 2040 or visiting Report to Action Fraud.
Scams to watch out for
-
Scammers may cold call you
claiming to represent Phoenix Wealth. Cold calls on pensions are
illegal. For any calls that come out of the blue asking you to do something
or give your personal information, simply end the call and contact
Phoenix Wealth using the contact details on our contact page. Criminals are looking to make money by
switching your policies or selling your personal information to other
criminals.
- As people self-isolate at home there is an increasing
risk that telephone, texts and WhatsApp scams will also rise,
including criminals claiming to be a bank, mortgage lender, utility company,
NHS or government department where criminals are trying to obtain personal
data to sell on or gain access to your money.
-
Using market
volatility around stock markets, scammers may advise transferring your
investments or pensions or offering a 'free' pension review. Remember cold
calls on pensions are illegal.
-
Promoting investment
opportunities with guaranteed returns. These are typically unusual and
unregulated investments such as property development, hotel rooms, storage
units or car parking lots and can be based in the UK and abroad.
-
Offers to 'unlock' cash held in pensions. As people face financial
difficulties this may sound attractive, but under 55, customers cannot
normally access funds without being impacted by severe financial
penalties.
-
Email scams that trick people into opening malicious
attachments. These scams put people at risk of identity theft with
personal information, passwords, contacts and bank details stolen. Some
emails lure people to click on attachments by offering information about
people in the local area who are affected by Covid-19.
-
Fake
online resources, such as false Covid-19 maps that deliver malware such
as AZORult Trojan, an information stealing program which can infiltrate
sensitive data. A recent example that has deployed malware is
'corona-virus-map[dot]com'.
Security tips to protect
yourself
-
Never share your financial or personal
information to a cold caller, in response to an email or via a text.
-
Check who you are dealing with. If you receive a call, get as much
information as you can about the caller and the company's background; try
searching the internet, but be wary of 'flashy' websites. All regulated
financial advisers should be registered with the Financial Conduct Authority
(FCA) (https://register.fca.org.uk)
-
If you have been asked to transfer your pension from Phoenix
Wealth check the FCA's warning list FCA Scamsmart Warning list (https://www.fca.org.uk/scamsmart/warning-list) or
phone the FCA consumer helpline on 0800 111 6768 to check a person is permitted
to give pension advice. Cold calling about pensions is illegal. Remember to
contact us as we can take steps to check the organisation with HMRC to make
sure it's legitimate.
-
Take your time. Never be rushed,
pressured or harassed into making a decision about your pension. Make all the
checks you need - even if this means turning down what seems to be an
'amazing' deal.
-
If you are unsure about an offer you have
received or if something doesn't sound right, contact The Pension Advisory
Service (TPAS) (https://www.pensionsadvisoryservice.org.uk)
which provides free independent and impartial information and guidance. Pension Wise (https://www.pensionwise.gov.uk/en)
provides free pension guidance for anyone over 50 years of age with a personal
or workplace pension.
For more information on Covid-19 scams and
fraud visit these websites:
Friends
Against Scams
National
Crime Agency
National
Trading Standards
Financial
Conduct Authority
Action
Fraud
Europol