Spot and stop COVID-19 scams

With people worried about their health, their families and their jobs, fraudsters have been taking advantage of the climate of fear and capitalising on the COVID-19 crisis.

Huge increase in cases

On 20 March, Action Fraud released figures showing that reports of scams had increased by 400% in March. The majority of reports concerned online shopping scams, with victims purchasing protective products (such as hand sanitiser) that failed to arrive.

Other examples involved phishing (or ‘smishing’), where scammers attempt to trick victims into clicking on a malicious link in an email or SMS, and lender loan fraud, whereby victims are offered access to quick cash in return for an upfront fee.

Keep safe

The government has issued advice to help vulnerable people protect their money from scammers:

Get the company’s name and look them up on the FCA’s Financial Services Register

Don’t click on links from senders you don’t know

Be wary of deals that sound too good to be true

Don’t give out personal details

Take the time to make checks, even if this means turning down an ‘amazing deal’

Seek financial guidance before making any big decisions

Talk to us

If you are unsure about any financial opportunities, please contact us first – we can help you find out whether they are legitimate.

Your home may be repossessed if you do not keep up repayments on your mortgage.