Unfortunately, scams are very common. Accordingly, we are pleased to provide some general advice for how best to keep yourself safe in respect of activity online, by telephone or traditional post.
We take your data protection as well as your financial affairs very seriously and make every effort to protect your best interests. To this end, we have invested in market leading levels of security and achieved a cybersecurity accreditation to confirm the precautions we have implemented.
Accordingly, we will not process a withdrawal request received by email; we will always contact you personally by telephone to verify any instructions. Moreover, a withdrawal from your portfolio can only be made to the bank account you have nominated in writing. If you wish to change your linked bank account, we require that you provide us with a bank statement dated within the last three months. We then request that the provider electronically verifies the bank details provided with the personal details registered with your portfolio. Some providers also request a wet or electronically signed form confirming the change too.
Our advice for avoiding and dealing with potential scams is as follows:
1. Protect Personal Information:
• Do not share sensitive details (eg. passwords, bank details, PINs, date of birth, NI number) over the phone, email, or text.
• Be cautious of unsolicited requests for personal or financial information.
2. Recognise Common Scam Tactics:
• Phishing Emails: Look for misspellings, suspicious links, or urgent messages asking for action.
• Imposter Calls: Scammers may pretend to be from legitimate organisations (eg. HMRC, or utility providers).
• ‘Too-Good-To-Be-True’ Offers: Avoid deals, prizes, or investments that sound unrealistic. Sadly, if something sounds too good to be true, it invariably is!
3. Verify Before Engaging:
• Contact the organization directly using their official website or phone number.
- Avoid clicking on links in unsolicited emails or texts—type the URL directly into your browser.
4. Use Strong Cybersecurity Measures:
- Keep software and antivirus programs updated.
- Use strong, unique passwords for online accounts. I.e. three random, unrelated words along with a number and symbol. Do not use information that might be common knowledge (I.e. Details you might list on Facebook e.g. birthplace, pet’s names or family names).
- Enable two-factor authentication (2FA) for added security.
- Sign out of, and close, all online portals as soon as you have finished using them.
5. Stay Alert to Unusual Requests:
• Be suspicious of any pressure to act quickly.
- Don’t transfer money or buy gift cards on someone’s instruction unless you’re sure they are legitimate.
6. Consider Opting Out of Unsolicited Telephone Calls for Landline and Mobile:
- The Telephone Preference Service is a good way to reduce the number of unsolicited calls on both your landline and mobile. It is free and simple to register your telephone numbers to opt out: Telephone Preference Service
Reporting Suspicions of Scams in the UK
1. Phishing Scams:
• Forward phishing emails to report@phishing.gov.uk.
• Report scam texts by forwarding them to 7726 (SPAM).
2. Telephone Scams:
- Report to Action Fraud, the UK’s national fraud and cybercrime reporting centre, via actionfraud.police.uk or call 0300 123 2040.
3. Suspicious Websites or Ads
• Report fake or scam websites to NCSC (National Cyber Security Centre).
4. HMRC Scams
- Forward suspicious HMRC-related emails to phishing@hmrc.gov.uk and texts to 60599.
5. Investment, Pension or other Financial Scams:
- There is a lot of useful information, as well as the ability to check if a company is authorised and regulated by the Financial Conduct Authority (FCA): https://www.fca.org.uk/scamsmart
6. Other Fraud or Financial Loss
• Use the Action Fraud website or hotline for general scam reports.
- For immediate threats or if you feel unsafe, contact your local police via 101 (non-emergency) or 999 (emergency).
7. Report on Behalf of Vulnerable People
- Contact Citizens Advice Scams Action (CASA) at 0808 250 5050 for free help and guidance.
By staying informed and vigilant, you can reduce the risk of falling victim to scams and take appropriate steps to safeguard yourself and others.
Please note that the content on this page is based on our understanding and the available information; we cannot be held responsible for any errors, and you should not act on the basis of the information in these articles, nor do they constitute investment advice. Past performance is not necessarily an indication of future returns; the value of investments and any income from them is not guaranteed and can fall as well as rise. Overseas investments are affected by currency movements and exchange rates. If you would like investment advice on your individual circumstances, please do not hesitate to get in touch via telephone at 01392 875500 or email at info@SeabrookClark.co.uk.