Independent Financial Life Planners Bishop's Stortford: Avoiding financial scams

Monday, 19 September 2016

Avoiding financial scams

Enable’s IFA’s in Bishops Stortford and Saffron Walden know only too well how damaging falling victim to a financial scam can be. Falling victim to any type of fraud is a traumatic experience. One of the best ways to combat this rising crime it to make sure people are forearmed with the knowledge to beat fraudsters at their own game.

Alongside the rise in this kind of crime is the problem of the banks and police being under resources and therefore are struggling to cope, and in many cases the blame can end up with the person who fell victim, often ‘negligence’ is cited. Refunds from banks are becoming an increasingly grey area and they seem to get more and murkier, whether you're a victim of vishing, smishing or phishing.

There has been a flood of fraud in Britain in the past few years, some of it originates here, but some of it from gangs in areas such as Eastern Europe, Russia and the US. Last year, online fraud losses were up 64 per cent annually, reaching £133.5million according to Financial Fraud UK. At the same time, phone banking fraud was up 92 per cent. A recent survey by Nationwide Building Society found that one in three people would be trusting enough to transfer cash to an unknown account if they were called by someone posing as their bank, showing a knowledge gap when it comes to fraud. The rise of this kind of fraud is not showing any signs of stopping and it is difficult to know what to do but at least when you hear about a new fraud, the tricks of the conmen can be revealed.

This is Money has created a Beat the Scammers hub page. It might be worth your while reading up on it and telling your friends and relatives about.

http://www.thisismoney.co.uk/money/beatthescammers/article-3774226/Fight-rush-financial-scams-new-Beat-Scammers-page.html

Issued by: Enable Independent Financial Life Planners •  25c North Street, Bishops Stortford, Herts CM23 2LD • Telephone: 01279 755950 - Fax: 01279 657339 Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE

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IFA Bishop's Stortford

At Enable Independent we know that our clients trust us and rely on our advice to help them to plan a better, more secure financial future. This is a responsibility that we take very seriously especially because we know that many clients have chosen us on the recommendation of friends and family. Each one of our advisers has deep expertise in their area of specialist knowledge and, as a team, we hold some of the highest qualifications available in the financial advice industry.

Our job satisfaction comes from using our skills to find workable, affordable and flexible solutions to meet our clients needs. Whether we are planning for known future funding requirements such as house purchase, school fees or income in retirement - or for the unforeseen such as job loss, long-term illness or early death, our independence from any product provider enables us to view the marketplace impartially. Our training permits us to look beyond a product's marketing hype and select on the basis of its fitness for purpose.