Could you spot a financial scam?

According to research conducted by Lloyds Bank, one in six British people has been a victim of some kind of financial scam.

20th July 2019
Investment Services

Scammers most commonly target people by email and phone calls, although the use of social media, text messaging and company websites is on the rise. Despite this, 83% of people said they felt confident they would be able to spot a scam, with 77% believing they were able to keep up with the potential risks around financial scams. Those aged 65 and over were the most confident about spotting a scam (87%).

While we are a vigilant nation, the research clearly shows that many people still get caught out. So, how can you spot a financial scam?

Spelling mistakes are a tell-tale sign. Get in the habit of checking for spelling mistakes in the addresses of emails you get and the main text of the message.

Check the identity of the sender. Double check that any requests are real by speaking directly to your bank on a number you have for them – not one that may be supplied in the email.

Use anti-virus software. Make sure your devices are protected and always download the latest updates for your operating system.

Question any requests to share details. Your bank will never ask you to share your user ID, password or memorable information. Contact them straight away if you receive any requests to do so.

Make sure your banking site looks normal. Don’t log on through links or key in any codes if the site looks different to usual.

With changing technology, fraudsters are able to use increasingly sophisticated tactics, which can make some scams difficult to spot. Being aware of the signs is crucial and always contact your bank immediately if you think you may have been a target of a potential financial scam.

Our News

J Edward Sellars Investments

Request a call with a financial advisor, we're here to help

Here at J Edward Sellars & Partners Ltd. we take your privacy seriously and will only use your personal information to get in contact with you about our services. By filling out this contact form, you give consent to us to contact you.