Steps to protect yourself from fraudsters and financial scams
As a result of the Covid-19 pandemic, there has sadly been an increase in the number of fraudsters exploiting people’s fears - targeting pension savers, investors and online consumers.
At Close Brothers Asset Management, we will never ask you to transfer your money or investments to another account or ‘safe-haven’ product. Neither will we ask you for your bank account details as a means of identifying you, or ask you for any passwords. Anyone can be targeted for fraud, so here we outline some steps from the Financial Conduct Authority (FCA) to help protect you from becoming a victim of fraud or a scam.
Fraudsters are using the details of FCA-authorised firms to try and convince consumers that they work for a genuine, authorised firms. These fraudulent firms are known as “clone firms”.
Fraudsters usually use this tactic when contacting people unexpectedly, so you should be especially wary if you have been ‘cold called’ or if you are contacted upon expressing interest in a Close Brothers Asset Management product on a third-party website. They may use the name of genuine Close Brothers Group companies, including the 'firm reference number' (FRN) issued by the FCA or other details.
An example of clone firm details which fraudsters are using or providing as part of their tactics to defraud people can be viewed at www.fca.org.uk/news/warnings/close-brothers-limited-clone-fca-authorised-firm.
We take cyber security and protecting our clients very seriously. Our cyber defences are regularly tested to confirm their efficiency, our systems are continuously monitored for sign of malicious activity and combined with our 24/7 alerting system, we can act in a timely manner to any perceived threats.
If you are contacted by someone who you think could be impersonating Close Brothers Asset Management, please cease communicating with them and contact us for clarification or to investigate further.
If you’d like to find out more about what you can do to reduce the risks of fraud, visit one of the following websites:
Before you invest, make sure you feel comfortable with the level of risk you take. Investments aim to grow your money, but they might lose it too.