Be vigilant against coronavirus scams Image: AdobeStock_87212890

COVID-19 scams can take many forms

Working with its partners, the Insolvency Service is warning its customers and members of the public to be vigilant in the face of scams connected to the coronavirus (COVID-19).

These scams could take many forms and might take the form of pensions transfers, high-return investment opportunities or health insurance supplements.

To help protect yourself you should:

  • Reject offers that come out of the blue
  • Get the company’s name and establish their credentials using the FCA’s Financial Services Register
  • Beware of adverts on social media channels and paid for/sponsored adverts online
  • Do not click links or open emails from senders you don’t already know
  • Be wary of promised returns that sound too good to be true
  • Take your time to make all the checks you need, even if this means turning down an ‘amazing deal’
  • Do not give out personal details (bank details, address, existing insurance/pensions/investment details)
  • Seek financial guidance or advice before changing your pension arrangements or making investments

There is further advice on the FCA’s ScamSmart website about how to protect yourself. If you suspect you may have been contacted in what could be a scam, you can make a complaint to the Insolvency Service or call Action Fraud straight away on 0300 123 2040.