Investment and Card Scams

The ‘Great Investment’ Scam
You are asked to invest in a fake business opportunity

This scam works because fraudsters go to a great deal of trouble to appear convincing. They launch an advertising campaign for their fake investment scheme, build a social media presence, deploy plausible and knowledgeable ‘advisers’, sometimes even create an app – and they promise outstanding returns. It is all a façade designed to attract investors and persuade them to hand over money. But that money is never invested anywhere, merely stolen.

Stay safe:

• Never make a snap investment decisions.
• Be wary of deals that seem too good to be true.  Unless you are absolutely sure an investment  opportunity is legitimate, do not send money.
• Check credentials of any investment firm, using the Financial Services Register or the Firm Checker on the website of the Financial Conduct Authority. Check the contact details you have been given match exactly the details on those registers.

The ‘Payment Machine’ Scam 
Your card and PIN are stolen from an ATM or parking meter  

Criminals exploit ATM machines in various ways. One is ‘shoulder-surfing’, i.e. trying to see the PIN used in conjunction with a bank card. Scammers aim to steal that card and use the PIN to withdraw cash.  

Other ATM scams are more technological. ‘Skimming’, for example, involves attaching a device to the ATM. It reads details from the card while a concealed camera records the PIN. Some devices ‘swallow’ the card, allowing the fraudster to retrieve it later.

Stay safe:

• To guard against shoulder-surfing, cover the keypad with your free hand while you type in your PIN.  
• If the ATM looks odd in any way, or there is evidence of tampering, walk away.