It’s not often we’d use a Bank communication as a basis for this blog. We all need banks, bless ’em. But like all other giant corporate institutions, their prose can seem a little dull. However worthy their intentions, we would rarely recommend their documents as reading for anyone other than the most inveterate sufferers of insomnia. But they do know what they’re talking about. And we want to protect you, gentle readers, from the activities of the loathsome tribe of fraudsters, con artists and scammers, who will be more active than ever at this turning time of the financial year.
So, at the risk of all creative and street credibility, here is an edited version of a missive from NatWest Bank. they may be a UK based outfit, but their principles apply across all nations and jurisdictions. So this is what they say, with our glossae added
In the first half of 2022, more than £61m was lost to fake investments in the UK. These scams are really convincing. That’s why we’ve put together some key watch-outs for you
Always use the FCA Register to check if the firm is authorised to provide investments- and to verify their contact details. If they’re not on there, it’s probably a scam. (LSS notes: your country should have some equivalent of this, unless your President’s little friends have taken it over)
Don’t just take the word of an online ad or something you’ve seen on social media, some scams use fake celebrity endorsements. (LSS Notes: and other fake “experts”, in our experience. Beware the ones who look and sound most like you)
Even if you’ve made good investments in the past, make sure you still do your research as there’s no guarantee you won’t be scammed. (LSS notes: if it sounds too good to be true, it probably is)
Before making any investment, tell a family member or trusted friend what you’re planning to do. Real investment companies will give you time to think about your options. (LSS notes: most errors are made by people on their own. This is why romance scams work as well. For God’s sake-tell someone what you plan to do)
Contact a company directly with trusted contact details that you have researched yourself to make sure you’re not speaking to a cloned company.(LSS notes: Some of these fake websites are incredibly good these days. We always ring/e mail a company these days, to check it really is them, and we’ve flushed out fakes, twice!)
Following this advice could be the difference between a safe investment or losing your savings.. (LSS notes and we have heard some terrible, heartbreaking cases of lives utterly destroyed by conpersons. The basic principle they work on is “there’s always another sucker born every minute”. Don’t be one!)
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