Victims lost an average of £45,242 last year after investing with fraudsters imitating investment firms. More than £78 million was lost in total, according to fraud reporting centre ‘Action Fraud’.
Reports of clone firm scams rose by 29% in April - at the time of the first national lockdown, compared with the previous month.
DON'T GET CAUGHT IN THE TRAP!
According to Action Fraud, the pandemic has made people more susceptible to scams due to concerns about personal finances.
Scammers will often use sophisticated tactics and will usually promise relatively modest returns that are just above the average rate in order to tempt people to part with their money.
- Reject unsolicited investment offers whether made online, on social media or over the phone.
- Be wary even if you initiated contact.
- Always check the FCA register to make sure the firm is authorised and check the FCA warning list of firms to avoid.
- Only use the telephone number and email address on the FCA register, not the contact details the firm gives you, and look out for subtle differences.
- Consider seeking impartial advice before investing.
Applewood Independent have been an established investment firm since 1998 and offer a free no obligation consultation.
We can be found on the FCA register or contacted directly on the details below.
You have nothing to lose and possibly a lot to gain!
Call 01270 626 555
Applewood Independent Ltd, Pepper House, Market Street, Nantwich, CW5 5DQ
Registered in England and Wales. Company registration number 03565805