Tag Archives: Action Fraud

National Fraud Intelligence Bureau warns ‘beware of Cape Verde scam’

Action Fraud Alert logoThe National Fraud Intelligence Bureau (NFIB) has been alerted to a pension scam whereby cold callers continue to target members of the public aged 50 to 60 years old to release and transfer their pension early.

Suspected firms who advertise and arrange pensions are offering investments in alternative commodities such as hotel developments or property in Cape Verde, and operate as unregulated collective investment schemes.

Often, the cold calling ‘pension companies’ involved are neither regulated nor qualified to give financial advice and classify themselves as a ‘trustee’, ‘consultant’ or an ‘independent advisor’ and offer exceptionally high return rates for investors.

Some victims have signed documents that authorises a limited company to be set up using their personal details, including utilising a Small Self–Administered Scheme (SSAS). Whilst SSAS accounts and limited companies are essential for legitimate schemes, the fact that victims are unaware that this will happen suggests that the scheme may not have been fully explained to them, increasing the likelihood that there may be an element of fraud involved.

Protect yourself:

Further advice can be found at:
http://www.fca.org.uk/your-fca/documents/protect-your-pension-pot
http://www.fca.org.uk/consumers/financial-services-products/pensions/protect
http://www.thepensionsregulator.gov.uk/individuals/dangers-of-pension-scams.aspx

Ensure that you request that the risks and growth rates are explained and that you fully understand them before transferring your pension

Check whether the pension arrangement company is registered with the FCA. Registered companies can be checked using the FCA register online at: https://register.fca.org.uk/

Remember that if the offer seems too good to be true, then it generally is

If you believe that you have been a victim of fraud you can report it online http://www.actionfraud.police.uk/report_fraud or by telephone 0300 123 2040.

Ten Tips to stay safe on Cyber Monday from the National Fraud Authority

Today (3 December) is “Cyber Monday,” the busiest day of the year for UK online retailers who are bracing themselves for up to 115 million visits to their sites.

During the first two weeks of December, consumers are forecast to spend £4.6bn online, up from £3.7bn in the same period last year [3 December 2012]

But shoppers surfing the web from the comfort of their homes or offices are being warned to look out fraudsters.

Action Fraud and the Police are urging online shoppers in Enderby and around the country to think about security, especially when using unfamiliar websites offering deals that appear too good to be true.

Christmas is a prime opportunity for fraudsters waiting to relieve customers of their hard-earned cash

By following these simple tips you can keep fraudsters at bay this Christmas:

1. Trust your instincts – if an offer looks too good to believe then there is usually a catch. Legitimate popular technology and designer items are rarely discounted.

2. Check the URL in the web browser. Don’t be fooled by spoof websites where the fraudsters slightly change the address.

3. Ensure the website address begins ‘https’ at the payment stage – this indicates a secure payment.

4. Don’t access links in unsolicited emails – always type in the website address or use a search engine to find a site.

5. Only deal with reputable sellers – only use sites you know or ones that have been recommended to you.

6. Avoid paying by money transfers – they aren’t secure. Use an online payment option such as PayPal, which helps to protect you.

7. Watch out for pop-ups appearing asking you to confirm your card details before you are on the payment stage. Never enter your PIN number online.

8. If your bid for an online auction item is unsuccessful, don’t be tempted to trade off-site if another seller approaches you with a similar item. This is likely to be a scam and you won’t be covered.

9. Keep security software and firewalls up-to-date. Regularly update your internet browser when a new patch is released.

10. Keep receipts and check these against your statement – if you spot a transaction you did not authorise speak to your card company immediately. If you are the innocent victim of any type of card fraud you will not suffer any financial loss.

To stop the criminals ruining your Christmas be careful when shopping online, always checking the sites legitimacy and make sure it has a secure payment facility.

It may feel like a pain at the time but it could make the difference between putting your presents under the tree and sitting there with on the big day with nothing to give.”

If you or someone you know has been a victim of this type of fraud, report it to Action Fraud so that the incident can be passed on to the police.

View Action Fraud website