Financial scams are on the rise. Don’t be a victim

In today's digital age impersonation scams are on the rise. And they present a very real threat to ordinary people and businesses alike. But what exactly is an impersonation scam? In a nutshell, it’s where a fraudster pretends to be someone they’re not (such as a reputable organisation, company employee or trusted individual), to get them to handover money or reveal sensitive information.

It's a crime that’s based on trust. These fraudsters are clever. They do their homework. And they take advantage of unsuspecting victims. But don’t worry, forewarned is forearmed. Here’s how to spot, avoid and take action if the worst should happen to you.

What form can impersonation scams take?

Impersonation scams aim to catch you unawares. So, they’ll use every means possible, including:

• Phishing emails (designed to get you to share personal information, often containing malicious software).
• Phone calls claiming to be from legitimate organisations.
• Fake social media profiles or posts.
• WhatsApp or text messages providing fake offers or instructions.
• Fraudulent websites designed to mimic legitimate ones.

Some scammers may even try to impersonate Fidelity websites, promote fake investment opportunities or cryptocurrency investments, or recommend false financial incentives. They could also pretend to be a member of Fidelity staff, using a genuine employee’s name and image to add legitimacy to their claims.

How to avoid falling victim to impersonation scams

If you follow these three tips, it’ll help reduce the risk of you being scammed.

1. Reject unsolicited investment offers: Be cautious of unsolicited communications offering investment opportunities. Always use official channels to check if a request is real or not, such as checking the phone number to see if it’s listed on the FCA register.
2. Be wary of urgency and pressure tactics: Scammers often create a sense of urgency to pressure their victims into taking immediate action. Watch out for requests that demand urgent responses, offer unrealistic returns, or seem too good to be true. Check the FCA Register to ensure you’re dealing with an authorised firm.
3. Stay informed and alert: Learn about the evolving tactics used by scammers and take proactive security measures to combat the threat of impersonation scams. Visit our staying secure pages for more information.  

Worried you’ve been a victim of fraud?

If you think you’ve received unsolicited communications which you suspect aren’t from Fidelity, please contact our customer services team as soon as you can on 0800 358 7712.

Alternatively, if you think you may have become the victim of a crime you can contact Action Fraud - The UK's national reporting centre for fraud and cybercrime.

Important information - investors should note that the views expressed may no longer be current and may have already been acted upon. This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice.