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Be Scam Smart
Seventy-seven percent of investors plan to increase their investments within the next six months in order to improve their long term financial situation. That’s according to a Financial Conduct Authority (FCA) survey which looked into investing intentions as part of their ScamSmart campaign. The same survey revealed that whilst 75% of investors felt confident they could spot a scam, 77% were unaware of ‘clone investment firms;’ fake companies set up using contact details of genuine investment firms.
These fake sites can be hard to spot with scammed consumers reporting an average loss of £45,242 each in 2020. In response, the FCA recommends that those considering an investment should:
- Never respond to unsolicited investment offers whether made online, via social media or the phone
- Always check the FCA register and warning list which is updated daily
- Only use contact details from the FCA register. Beckworth’s details can be found here
- Consider seeking financial advice before investing
And remember – if it looks too good to be true then it probably is
If you are looking for advice on investments, or if your situation has changed and you may therefore need to review your existing pensions or investments, contact Beckworth by using one of the links on our website.