Which Areas Report More Scams?
The Financial Conduct Authority (FCA) is urging the public to get in touch if they have been contacted by a company offering what they think could be a fraudulent investment. This plea comes as new research shows more than a fifth (22%) of over 55s surveyed who suspect they have been contacted about a fraudulent investment in the last three years, did not tell anyone about it. The most common reason given for not reporting was not knowing who to report to (49%).
To avoid being a victim of investment fraud think before you act. We have a saying at financialadvice.net: “You can only con a greedy person” and the common one we all know and should live by: “If it looks too good to be true it probably is”.
The FCA advises us all to, at the very least:
You can report suspected investment scams to the FCA at www.fca.org.uk/scamsmart or call on 0800 111 6768.
So where are the top 10 ‘scam areas’ by volume of reported incidents to the FCA: