it is important to be aware of fraud and scams as this can help you to keep your money safe. Unfortunately with the expansion of the internet, scams have also developed.
What are scams?
Scams can come in many forms, but all are designed to get hold of your money.
Scammers will do this by tricking you to reveal your personal details, stealing your information, or even tricking you into willingly handing over the cash.
A great anti fraud campaign and another way to keep up with new scams is to look at Take Five.
Scams can be very easy to fall for especially in high pressured situation
The number one rule: If something being offered looks or sounds too good to be true, it probably is!
For example. You found an ad online and it said if you invest in this product it can guarantee you a return of £20,000.
- An investment can be risky and can go up and down. A good return can never be guaranteed. (If you are looking at investing you should always do your own research and be aware of the risk
- Your investment should be FSCS reguated. This protects your money up to £85,000 if an investment service or bank goes bust. A financial service does not need to be FSCS reguated but it is good to know that your money is protected If anything was to happen to the financial service.
- It doesn’t tell you how much that you need to invest or for how long in order to get a good return. To get a good return you need to invest a lot of money over a number of years.
Not everything is a scam, but when it comes to unsolicited adverts, emails or phone calls it is always best to think twice before you click.
It is also important to remember that no one, not even your bank. Will phone you and ask you for your personal details like your date of birth, your name (if there your bank thay will already know that), your bank details like your PIN, your card number, or any other personal details.
For an up to date list on all the scams please click on the links above ☝️
Keeping your money protected.
It is always important to keep your money in FSCS reguated financial services. An FSCS reguated financial service will protect your money up to £85,000 to find out more please take a look at the FSCS website.
Keep a look out for the FSCS logo when applying for a financial service. 👇
The last tip is that it is a good idea to keep personal budget this will stop you from over spending