Scammers posing as bogus fraud squad detectives are cold-calling prospective victims in a bid to persuade them to hand over cash.
The Serious Fraud Office is warning that these callers claim to be part of the ‘fraud squad’ working for the SFO in London and are investigating financial firms.
Victims are then asked to give personal and financial information over the phone and to make an appointment to meet the detective where they should hand over cash.
The SFO explained that investigators do not identify themselves as fraud detectives and never ask for payments of cash.
How to check out scammers
“If our investigators contact anyone during the course of an inquiry, anyone with any doubts about their identity should dial the SFO main switchboard on 0207 239 7272 and ask for the call to be transferred to the named person.
“This way, we can confirm if the caller is an SFO employee or a fraudster posing as one of our investigators.”
The SFO does make telephone calls to individuals, but the number is always withheld for security reasons.
Emails come from someone with an @sfo.gsi.gov.uk address.
Warnings about bogus advisers – Worldwide
Here are the latest rogue financial firm warnings on the International Organisation of Securities Commissions web site:
- Recovery rooms – Belgium
- Atlas Financial Group LTD – Switzerland
- European Commodities Commission – Belgium
- International Trade Management – Austria
Warnings about bogus advisers – UK
Here are the latest bogus financial advisers listed on the Financial Conduct Authority (FCA) web site:
- CarbEx
- Whitfield International Consulting Group
- Eagle and West Limited
- Wakefield Securities Limited
- FSDIB Investment/ FSD Investment (clone web site)
Dealing with an unregulated firm
If you buy shares, save money or invest with an unregulated firm, you lose any protection offered by the Financial Ombudsman and the Financial Services Compensation Scheme. Broadly, you have no independent place to complain if the deal goes wrong and are unlikely to win any compensation.
Checking if a firm is regulated
Go to the Financial Services Register to check if a firm is regulated in the UK.
Reporting a suspected bogus adviser
Find out how to report unauthorised advisers on the FCA web site
