Andrew Stunell MP & Lisa Smart, Prospective MP for Hazel Grove, have thrown their weight behind a new campaign on scam awareness to protect those most at risk of investment fraud.
Financial regulator, the Financial Conduct Authority (FCA), has this month launched a new campaign to warn people about investment fraud and how to spot a potential scam.
Lisa Smart, Prospective MP for Hazel Grove said –
“As Director of Stockport Credit Union I know just how easy it is for people to fall victim to these convincing scams. This is why it is so important to know how to spot the signs of a potential scam, and to encourage friends and family to be alert to deals that seem too good to be true. The FCA’s handy ‘Scamsmart’ website is a useful tool for anyone who is considering an investment, I’ll certainly be signposting Stopfordians to this website at my next Credit Union shift.”
Commenting, Andrew Stunell MP said –
“These scammers sound very plausible indeed, starting with an unexpected phone call and using high-pressured sales tactics for products which often do not exist, including land-banking schemes, carbon credits and rare earth metals. However good it sounds, the advice is clear – don’t touch them with a barge-pole.”
Those most at risk are often retired people looking to make investments. Investment scams are difficult to spot and are designed to look like genuine investments. As well as protecting themselves from investment fraud, the FCA is calling on people to report suspected scams, either on their website or by calling Action Fraud on 0300 123 2040.
The FCA is encouraging anyone who is considering an investment to check its ‘Scamsmart’ website, www.fca.org.uk/scamsmart , and seek independent financial advice from a regulated professional before going ahead.