Victims typically lose £45,000 each owing to investment scams
27/01/2021 | news | business | 288
Lockdown led to a surge in reports of fraudsters imitating genuine investment firms, regulator says.
1
27/01/2021 10:29:20 6 4
bbc
It seems the old saying 'You can fool some of the people ALL of the time' applies in the 21C. Why DO people rely so much on the Internet to spend/invest money? Astonishing...
2
27/01/2021 10:29:29 7 11
bbc
£45,000 the average loss of the gullible and the greedy. If it sounds too good to be true, leave it alone.
13
27/01/2021 10:35:50 11 5
bbc
That’s a rather nasty comment aimed at people who just wanted to invest their earnings for a future return. To suggest they are greedy for wanting to do that is a tad unreasonable. To suggest they are gullible for being taken in by some very clever scammers is unkind.
3
27/01/2021 10:29:37 66 2
bbc
If a deal looks too good to be true, then it probably is!!!!
96
27/01/2021 11:18:07 19 0
bbc
Yep, stellar interest rates or returns being offered should ring alarm bells, W.C. Fields made a movie once called "You Can't Cheat An Honest Man".
163
27/01/2021 11:49:22 2 0
bbc
Not on the same scale but I would say I'm very wary of being ripped off, however on Black Friday I believed a professional looking website offering 20% off lego sets was genuine. Turns out not. Thankfully Mastercard refunded it. We can all be fooled.
180
27/01/2021 12:01:09 3 1
bbc
I agree. Scammers target people who basically are looking for something for nothing ie unrealistic returns which can only be based on either exploiting someone or a scam
194
27/01/2021 11:52:21 4 4
bbc
Brexit?
246
Pip
27/01/2021 15:30:55 1 0
bbc
And that's the truth.........?
4
27/01/2021 10:29:56 4 9
bbc
GREEDis a double edged sword!
I would like to see some real effort to bring the scum who conduct these scams to justice. Removed
6
FF
27/01/2021 10:31:13 47 4
bbc
£40'000 Good Lord. Life changing money. Its the absolute scourge of Mankind that does this. The damage mentally and financially can be catastrophic.
7
Ted
27/01/2021 10:32:11 77 4
bbc
I'd suggest much tougher penalties for fraudsters, confiscate all assets and pensions, give prison sentences. Also, the UK regulators should be more proactive before investors lose money
87
27/01/2021 11:15:07 24 0
bbc
You're making the assumption that these fraudsters are UK-based. UK isn't even in the top 10 for cyber crime.
178
27/01/2021 12:00:24 2 4
bbc
Steady on, there would be no one left in the Cabinet and then who could be found to ruin the country
206
27/01/2021 12:22:59 3 2
bbc
NEVER invest more than yo can afford to lose. Basically, you re gambling.
265
27/01/2021 16:49:17 0 1
bbc
If you have ever had anything to do with the outrageously misnamed Action Fraud, you can see immediately why fraudsters are having a field day.
272
27/01/2021 20:22:35 0 0
bbc
UK regulators don't regulate scam companies!
8
27/01/2021 10:33:53 6 9
bbc
There are some stupid people out there
26
27/01/2021 10:41:57 5 0
bbc
Your comment could be posted on any HYS. I'll add my useless comment.

The world is not flat.
10
27/01/2021 10:33:59 33 1
bbc
Always answer the phone with 'hello' or similar, not your phone number.
I leave my phone on permanent answering machine, it may irritate genuine callers but that way it gives YOU the opportunity to accept or reject the call. If you do not recognise the voice or the number - just hang up. The same goes for silent calls. All simple stuff but some older people are too polite to unsolicited callers
52
xlr
27/01/2021 10:54:59 11 2
bbc
If you get a call blocker that requires the caller to press a breakthrough key to get through, it will block 100% of spam while being only a very minor inconvenience to actual callers. You may miss some legit call centre calls though.
167
27/01/2021 11:50:59 4 4
bbc
Who answers with their phone number? This isn't 1930.
282
28/01/2021 08:51:38 0 0
bbc
I answer the phone with “Hello, you are now through to GCHQ Monitoring Service”.
11
27/01/2021 10:34:06 6 3
bbc
I was a victim of fraud. I called Action Fraud and told them what happened. He then said to me please wait, I have written down what you have said and I will now put it into the computer. While I was waiting I managed to find out the address of the fraudster. When the person came back on the phone I tried to give him the address but he said it was too late he had already submitted the information.
12
27/01/2021 10:35:16 22 5
bbc
I appear to have the honour of being the first contributor.
The only thing I can add is the importance of being careful and think twice before contributing to these criminals coffers. There is no need to hurry over your life savngs future.
It would have been useful if the BBC had published the web address of the FCA, instead of just publishing this sad story, which does nothing to help.
2
27/01/2021 10:29:29 7 11
bbc
£45,000 the average loss of the gullible and the greedy. If it sounds too good to be true, leave it alone.
13
27/01/2021 10:35:50 11 5
bbc
That’s a rather nasty comment aimed at people who just wanted to invest their earnings for a future return. To suggest they are greedy for wanting to do that is a tad unreasonable. To suggest they are gullible for being taken in by some very clever scammers is unkind.
21
27/01/2021 10:40:52 5 5
bbc
The truth can be nasty. It can be painful, it can also educate.
14
27/01/2021 10:36:59 14 2
bbc
Invisible theft. If you had that sort of money stolen in the street then the police would act more robustly.
15
27/01/2021 10:37:42 38 3
bbc
Some very harsh, unjustified comments regarding those who are scammed. An elderly relative of ours nearly lost a lot to a scammer - what stopped it was that he went to an actual bank (Nat West) where an employee smelled a rat. Now with banks closing and more people using on-line services I'm not surprised folks fall for sophisticated scammers. Police and government must do much more to stop it.
283
28/01/2021 10:47:46 0 0
bbc
Yes. These scammers knew their jobs. Senior elderly people ,not very literate with their computers seem to be the ideal targets.
16
27/01/2021 10:38:20 4 3
bbc
Time to get tough.

Crucifixion, first offence.
30
27/01/2021 10:43:21 2 1
bbc
Mail them up, nail some sense into them !!
54
xlr
27/01/2021 10:55:52 2 0
bbc
Crucifixion's a doddle
249
27/01/2021 15:59:20 0 0
bbc
Line on the left, one cross each..
17
27/01/2021 10:38:42 17 2
bbc
The old saying...‘If it sounds to good to be true then it is’

Not content to stick with the well know institutions for modest long term returns their greed makes them blind to careful consideration. Investments are long term not get rich quick schemes. Time and time again the media and FSA have warned of the dangers.
18
27/01/2021 10:38:54 48 4
bbc
If you receive an unsolicited call the response should be Foxtrot Oscar. There is no reason for anyone to be defrauded if you takes proper steps. If you use online websites ensure they have secure lock status and check the certificate. Never ever transfer money to an account that you are not familiar with and Always check with your bank. As for texts if you don't no the sender delete and block.
32
27/01/2021 10:45:26 24 2
bbc
Excellent advice. For some weird reason, my bit of North Wales is prone to scam calls, cloning UK STD on Caller ID. I don't answer them & I've switched my answer machine off. Over time, the calls have subsided. If you answer, they know it's a live line. Another tip: If someone calls you & claims to be from BT, ask them for their OUC. If they don't know what you mean, they're not from BT.
37
27/01/2021 10:48:08 15 0
bbc
The 'secure lock' status does NOT guarantee that the website is run by a genuine company. ALL it does is confirm that your communications with the web site are encrypted. This message has been 'dumbed down' for the general public to the effect that people gain false confidence in web sites with padlock symbols.
166
Ed
27/01/2021 11:32:53 8 0
bbc
All that secure lock means is that the website has a TLS certificate it doesn't mean the site is trustworthy. I could create a site and get a certificate within 10 mins.
19
27/01/2021 10:38:59 116 5
bbc
What I never understand is how banks say they don't know who owns the account money is transferred to so they can't recover it. Strange as to open any account, you have to provide your name, address, DOB etc and it is checked against the electoral register
70
27/01/2021 11:06:25 38 9
bbc
Anyone would think the banks were aiding and abetting.
Strange because the banks are such trusted organisations... . not!
134
27/01/2021 11:36:02 14 0
bbc
An extremely good point. For a bank to act as an impartial facilitator isn't acceptable.

Why is it a business can receive money anonymously, yet every account, mortgage agreement, and loan I've ever taken out has been in exchange for my very soul?!

... and then these businesses can just declare bankruptcy and disappear, along with the money they stole.

A change in business law is overdue here.
136
27/01/2021 11:37:09 6 13
bbc
And you're so well informed re foreign banks and how they work are you?
145
27/01/2021 11:41:00 9 1
bbc
Additionally why aren't banks checking more? Credit cards use AI to flag fraud.. Why not banks?
Use an escrow account for dodgy transfers?
Other reports were UK loses £200 billion to fraud, scams etc.. Why isnt UK gov taking notice? Where's a ukgov backed antivirus, encryption, vpn system which could then be sold worldwide?
213
27/01/2021 12:28:05 3 2
bbc
Money laundering law should mean no bank or payment can be made without passport ID, proven address, source of monies. Hackers I suppose, they can hack anything.
236
27/01/2021 14:11:38 2 0
bbc
You can open an account for the individual in front of you with all the proof you need. Once opened the account can then be taken over by criminal gangs after a period of time. Happens in many things, why should it be the banks fault for this?? Police are too thin on the ground to be even bothered by this. I've worked in the industry, they stop much more than goes through, police not interested!
286
28/01/2021 18:15:12 0 0
bbc
Your right. The banks are complicit with these criminals. The bank will see a huge balance in the criminals account and be reluctant to use it's power because it will mean losing a customer with such a huge balance.

I think banks should be forced to freeze ANY account that recieves more than 2 theft complains.

Unfortunatly, this will just force the criminal into using cryptocurrency/Bitcoin etc
20
ken
27/01/2021 10:39:40 4 1
bbc
Dodgy numbers on my phone calls will inform me of potential fraud then just block numbers
25
27/01/2021 10:41:54 7 2
bbc
Numbers are often spoofed and different every time. No point blocking them.
13
27/01/2021 10:35:50 11 5
bbc
That’s a rather nasty comment aimed at people who just wanted to invest their earnings for a future return. To suggest they are greedy for wanting to do that is a tad unreasonable. To suggest they are gullible for being taken in by some very clever scammers is unkind.
21
27/01/2021 10:40:52 5 5
bbc
The truth can be nasty. It can be painful, it can also educate.
22
27/01/2021 10:41:03 9 4
bbc
Cavaet emptor

As true now as when it was written all those years ago.
34
27/01/2021 10:46:37 5 1
bbc
Think you mean 'caveat emptor' ??
23
27/01/2021 10:41:48 24 2
bbc
Quotation: "Kill one man, and you are a murderer. Kill millions of men, and you are a conqueror." Always seemed bizarre to me that someone, who steals from thousands of people via 'white collar' crime, may well get a sentence that is no worse & maybe lighter than someone, who steals from one person. How about we consider the number of victims & not the number of events deemed criminal..
62
27/01/2021 11:01:06 6 0
bbc
it is said "if you take a little from a lot of people, you are less likely to bee spotted than if you take a a lot form a little number of people".
and it wasn't me who said that :-0
24
27/01/2021 10:41:51 2 21
bbc
Good. If they've got a spare 45k knocking around then they can afford to lose it.
31
27/01/2021 10:44:44 13 1
bbc
Don’t be ridiculous. This is usually someone’s pension they worked years to accumulate.
48
27/01/2021 10:52:16 4 1
bbc
You insensitive illegitimate child
20
ken
27/01/2021 10:39:40 4 1
bbc
Dodgy numbers on my phone calls will inform me of potential fraud then just block numbers
25
27/01/2021 10:41:54 7 2
bbc
Numbers are often spoofed and different every time. No point blocking them.
245
27/01/2021 15:29:25 1 0
bbc
Correct. But the spoofed numbers aren't fictitious, they are someone's real number. A few weeks ago the spoofer equipment generated my number; I answered the phone and immediately hung up. Within seconds I was inundated with abusive phone calls from irate people who had dialled 1471 and phoned back to let me know what they thought of me. I had to disconnect the phone for 24 hours until it stopped.
271
ken
27/01/2021 19:14:48 0 0
bbc
Why unless you are making these sort of calls
8
27/01/2021 10:33:53 6 9
bbc
There are some stupid people out there
26
27/01/2021 10:41:57 5 0
bbc
Your comment could be posted on any HYS. I'll add my useless comment.

The world is not flat.
This reads as though “taking down a website” is all they do.

Is that it?

Surely these are serious crimes and any phone number/website was setup by someone. Telecoms companies should be forced to handover these details to police and prosecute to the maximum degree.

I’m sure I’m not alone getting dozens of emails/calls from these scum, all of whom should be behind bars.
Removed
40
27/01/2021 10:49:37 0 0
bbc
How do you suggest this happens, across borders? Many of the scammers are overseas.
28
27/01/2021 10:43:04 25 1
bbc
Much more should be done to attack these scammers. They have phone numbers and websites so it must be possible to identify who set these up. Instead, it seems we're just reacting to the problems and expecting banks to reimburse victims. Maybe there are some Mr Bigs who'd remain at large, but if their underlings were regularly getting hammered there'd be a lot less scamming.
39
27/01/2021 10:48:51 17 0
bbc
Yes, more must be done but, as is so often the case, not that easy. Awful lot of the scammers are overseas & that immensely complicates things.
65
27/01/2021 11:02:54 6 1
bbc
Sadly the police are stuck in the dark ages and have no idea on how to fight this type of crime (and it isn't all overseas which they use as a convenient excuse) This is why it is a growing industry.
217
27/01/2021 12:31:24 0 0
bbc
As I am reading this I can hear my messages recording an automated voice talking about verifying my phone connection and how I have to press 1. What happens if you press 1? In my long life nobody has actually done this before so I ignore.
29
27/01/2021 10:43:07 14 1
bbc
Before investing in anything you should always ask yourself ‘how much can I afford to lose?’
I might make you take a step back.
16
27/01/2021 10:38:20 4 3
bbc
Time to get tough.

Crucifixion, first offence.
30
27/01/2021 10:43:21 2 1
bbc
Mail them up, nail some sense into them !!
24
27/01/2021 10:41:51 2 21
bbc
Good. If they've got a spare 45k knocking around then they can afford to lose it.
31
27/01/2021 10:44:44 13 1
bbc
Don’t be ridiculous. This is usually someone’s pension they worked years to accumulate.
18
27/01/2021 10:38:54 48 4
bbc
If you receive an unsolicited call the response should be Foxtrot Oscar. There is no reason for anyone to be defrauded if you takes proper steps. If you use online websites ensure they have secure lock status and check the certificate. Never ever transfer money to an account that you are not familiar with and Always check with your bank. As for texts if you don't no the sender delete and block.
32
27/01/2021 10:45:26 24 2
bbc
Excellent advice. For some weird reason, my bit of North Wales is prone to scam calls, cloning UK STD on Caller ID. I don't answer them & I've switched my answer machine off. Over time, the calls have subsided. If you answer, they know it's a live line. Another tip: If someone calls you & claims to be from BT, ask them for their OUC. If they don't know what you mean, they're not from BT.
192
27/01/2021 12:10:46 0 0
bbc
Another reason might be your local STD area might be quite small hence it would be easier for a machine or even people to cover that compared to a large city for example 0151 will have far more numbers than a rural area.
208
27/01/2021 12:23:16 2 0
bbc
If you answer, when the 'list' gets sold on, your number is marked as a number that responds and you're targeted as a result.

Don't know if it's true, just what I heard.
33
27/01/2021 10:45:42 15 1
bbc
Not easy. People who lose out could be described as responsible for their loss, at fault, silly etc, but it's the crooks who are responsible.

It's difficult to see how they can be compensated without making us all victims whilst having no control over the risk.

Worse, compensation would lead to a new scam, deliberate loss to pay the crooks by other crooks who deliberately "fall for" the scam!
22
27/01/2021 10:41:03 9 4
bbc
Cavaet emptor

As true now as when it was written all those years ago.
34
27/01/2021 10:46:37 5 1
bbc
Think you mean 'caveat emptor' ??
35
27/01/2021 10:47:26 15 9
bbc
(Quote) One victim, called Janet, said: "After searching the internet for high-return bonds, I received a call the next day about investing in student accommodation. (Unquote)

So she was happy to scam students investing in a scheme to make money from student debt. But she felt aggrieved when the tables were turned. The world does work in strange ways.
36
27/01/2021 10:47:40 22 2
bbc
I received a scam call from the 'tax man' yesterday using a local number saying I should push a button and pay a debt otherwise a warrant would be immediately issued and i would be arrested.

I don't understand how these things work but how can it be that anonymous people can use our phone network to scam us. Surely they would have set up the number and would leave their details. If not why not.
45
27/01/2021 10:51:46 15 0
bbc
You may well find that this scammer was overseas. And that is one of the key problems. No international alignment on this.
64
27/01/2021 11:02:53 6 0
bbc
You can buy sim cards in bulk. Some will be duds, but most are okay and usually get used for "22446" style text numbers.
HMRC cant do anything even when you report as that sim is then in the bin.
Its UK based else the fake HMRC would be using a +34 etc number.

The problem here is HMRC are so hard to get hold of, with automated everything. Many end up falling for it.
137
27/01/2021 11:37:31 5 0
bbc
I too got exactly the same call (noted that they didn't address me by my name, which is a clue). First thing you should ask yourself on receiving any unsolicited request is: 'Is this a scam?', the real world won't be trying to panic you into on-the-spot decisions. Don't press buttons to answer or click any links, examine URL's (links) carefully - particularly the domain name part.
138
27/01/2021 11:37:34 1 0
bbc
I had one of those on my mobile phone when I was in the departure lounge at an airport (remember those days). The international arrest warrant did not work!
240
27/01/2021 14:49:56 2 0
bbc
Always remember that 1) even if you do owe HMRC, you can't be arrested for debt, it's not a crime, and 2) tax is never collected in this way. It will always be a scam.
18
27/01/2021 10:38:54 48 4
bbc
If you receive an unsolicited call the response should be Foxtrot Oscar. There is no reason for anyone to be defrauded if you takes proper steps. If you use online websites ensure they have secure lock status and check the certificate. Never ever transfer money to an account that you are not familiar with and Always check with your bank. As for texts if you don't no the sender delete and block.
37
27/01/2021 10:48:08 15 0
bbc
The 'secure lock' status does NOT guarantee that the website is run by a genuine company. ALL it does is confirm that your communications with the web site are encrypted. This message has been 'dumbed down' for the general public to the effect that people gain false confidence in web sites with padlock symbols.
38
27/01/2021 10:48:34 26 3
bbc
1st Rule of big investement: if you are not a financial expert use an accredited financial adviser. It will save you money and potential heartache.
2nd Rule: If it's too good to be true, it probably is.
And as important, if you can't sleep at night, don't do it!
218
27/01/2021 12:33:29 5 0
bbc
Never invest what you cannot afford to lose. Use only long established financial providers and check the contracts, their take, and get a second opinion. Sales people are trained to draw you in.
256
27/01/2021 16:45:23 0 1
bbc
It all comes down to common sense. Something that is about as abundant as the Prime Minister's IQ!
28
27/01/2021 10:43:04 25 1
bbc
Much more should be done to attack these scammers. They have phone numbers and websites so it must be possible to identify who set these up. Instead, it seems we're just reacting to the problems and expecting banks to reimburse victims. Maybe there are some Mr Bigs who'd remain at large, but if their underlings were regularly getting hammered there'd be a lot less scamming.
39
27/01/2021 10:48:51 17 0
bbc
Yes, more must be done but, as is so often the case, not that easy. Awful lot of the scammers are overseas & that immensely complicates things.
This reads as though “taking down a website” is all they do.

Is that it?

Surely these are serious crimes and any phone number/website was setup by someone. Telecoms companies should be forced to handover these details to police and prosecute to the maximum degree.

I’m sure I’m not alone getting dozens of emails/calls from these scum, all of whom should be behind bars.
Removed
40
27/01/2021 10:49:37 0 0
bbc
How do you suggest this happens, across borders? Many of the scammers are overseas.
41
xlr
27/01/2021 10:50:14 9 6
bbc
Deregulation means higher profits but more scams. Regulation means less scams but potentially blunting real investment. It's a give and take and the Tories have always preferred the deregulated end of the spectrum, and you voted Tory, so caveat emptor me ol' chums.
42
27/01/2021 10:50:14 6 12
bbc
If you can afford to throw money at a too-good-to-be-true 'investment', you can afford to lose it.
53
27/01/2021 10:55:19 5 1
bbc
Don’t be ridiculous. It’s criminals posing as official pension sites trying to defraud people out of there pensions.
78
27/01/2021 11:09:59 1 0
bbc
how cynical
83
ike
27/01/2021 11:13:49 2 0
bbc
The thing is that the elderly have been brought up on trust and that’s a bit different from today’s world,
Billions have been payed to the younger generation for claiming furlough and grants they were not entitled to, wait until those investigations are carried out.
43
27/01/2021 10:50:41 2 2
bbc
This sort of activity needs to have some form of clearing house involved. Ultimately this is money moving between bank accounts and if it had to be done through a central intermediary then they can ensure that everything is legit. They would only register target accounts once they were verified as being attached to the proper company.
44
27/01/2021 10:50:42 5 8
bbc
In the age of scams, the information is out there. Don't trust anything that's too good to be true...because it's neither!
It didn't take long before 'Farage's Fortune & Freedom' Financial advice scheme had people reporting they'd actually lost money!
He said 'shares go down as well as up'
As the saying goes 'Fooled once, shame on them. Fooled twice, shame on yourself!' He's always been a scammer!
36
27/01/2021 10:47:40 22 2
bbc
I received a scam call from the 'tax man' yesterday using a local number saying I should push a button and pay a debt otherwise a warrant would be immediately issued and i would be arrested.

I don't understand how these things work but how can it be that anonymous people can use our phone network to scam us. Surely they would have set up the number and would leave their details. If not why not.
45
27/01/2021 10:51:46 15 0
bbc
You may well find that this scammer was overseas. And that is one of the key problems. No international alignment on this.
46
27/01/2021 10:51:53 25 5
bbc
Bottom line - if it seems too good to be true, it is.
47
27/01/2021 10:52:11 11 6
bbc
People think investing is an easy way to make money. If it was we would all be rich!
Why put your hard earned money at risk by what you read and see on the internet? Too much is done online purely on trust. Wait until things open up again and use a financial advisor who has a long-standing presence near where you live. They are covered by their professional body.
24
27/01/2021 10:41:51 2 21
bbc
Good. If they've got a spare 45k knocking around then they can afford to lose it.
48
27/01/2021 10:52:16 4 1
bbc
You insensitive illegitimate child
49
27/01/2021 10:52:43 2 3
bbc
This article is very interesting, whilst in modern times, Investing' is becoming very main stream , open to everyone.
144
27/01/2021 11:40:48 0 1
bbc
Open, yes. Do many have the savings to do it? No. The average person in UK has little to non savings.
203
27/01/2021 12:19:38 0 0
bbc
Only because the high street banks only offer way below inflation interest rates (less than 0.1%) and ordinary people are desperate to protect their hard-earned savings/pensions from losing significant value every year.
50
27/01/2021 10:54:02 5 8
bbc
Can’t believes BBC removed my comment as I’d used a mild expletive to describe the fraudsters.

This basic over liberalisation is exactly why people get away with whatever they want.

If you can’t even rebuke them, what chance have the police, fsa, courts or anyone else got?

This probably goes for all crime where the criminal is no doubt usually a victim of something.
72
27/01/2021 11:07:58 3 0
bbc
I think what you're experiencing is more a case of swearing isn't allowed on HYS... rather than liberalisation causing the destruction and decay of society, which is what you seem to be alluding to.
140
27/01/2021 11:38:04 0 0
bbc
So let me step through this.... 'Cos HYS (which has a policy against expletives) removes a comment, you think the police etc will be affected in a similar way? If there was a criminal offense related to swearing... but that would affect YOU. The police etc are looking at FRAUD &, as far as I know, a key component of that crime doesn't relate to them being let off, if a constable swears at them.
51
27/01/2021 10:54:46 10 3
bbc
Unfortunately, scammers can easily falsify the number they are calling from. So when they start a call saying 'How are you?' I always reply 'So what's the weather like in Brighton' (if I recognise the code - but can choose a place at random). Sometimes I say something like 'Your office is very noisy, it sounds like a Boiler Room' (name for a scamming shop). They soon hang up.
69
27/01/2021 11:05:32 3 0
bbc
I teach you some easier ways to get rid of a scammer.
1) Use a softer voice (if male), and say you are a minor and parents are not at home. 80% of scammers just hang up :)))
2) 20% are still on hook and asks only when can they recall to speak with an adult. Offer after 9PM or later, they will understand is a lost call :)))
I offered a couple of tricks. There are more to escape these scammers :)))
92
27/01/2021 11:16:37 4 0
bbc
If you've got the time, play the "How long can you keep them on the line" game.
You know you've won when they start dropping the professional voice and get really irritated. Also, it uses up time that they could be using to scam somone less savvy than your self.
10
27/01/2021 10:33:59 33 1
bbc
Always answer the phone with 'hello' or similar, not your phone number.
I leave my phone on permanent answering machine, it may irritate genuine callers but that way it gives YOU the opportunity to accept or reject the call. If you do not recognise the voice or the number - just hang up. The same goes for silent calls. All simple stuff but some older people are too polite to unsolicited callers
52
xlr
27/01/2021 10:54:59 11 2
bbc
If you get a call blocker that requires the caller to press a breakthrough key to get through, it will block 100% of spam while being only a very minor inconvenience to actual callers. You may miss some legit call centre calls though.
42
27/01/2021 10:50:14 6 12
bbc
If you can afford to throw money at a too-good-to-be-true 'investment', you can afford to lose it.
53
27/01/2021 10:55:19 5 1
bbc
Don’t be ridiculous. It’s criminals posing as official pension sites trying to defraud people out of there pensions.
16
27/01/2021 10:38:20 4 3
bbc
Time to get tough.

Crucifixion, first offence.
54
xlr
27/01/2021 10:55:52 2 0
bbc
Crucifixion's a doddle
55
27/01/2021 10:55:59 5 9
bbc
all I can say "you have to have it, before you can lose it"
57
27/01/2021 10:58:14 14 2
bbc
We’re talking peoples pension not some cosy pile they found down the back of the sofa.
129
27/01/2021 11:33:37 1 0
bbc
Not necessarily. Depends on the type of scam.
56
27/01/2021 10:56:49 10 3
bbc
In other news, contactless limit to increase to £100...
61
27/01/2021 11:00:52 6 0
bbc
Yeah I though same. Make it quicker for thieves to drain someone account on same day as this article!

I have 2 accounts and transfer small amounts to the card I use for internet shopping/cash card payments. I Never give my main account details to anyone.
55
27/01/2021 10:55:59 5 9
bbc
all I can say "you have to have it, before you can lose it"
57
27/01/2021 10:58:14 14 2
bbc
We’re talking peoples pension not some cosy pile they found down the back of the sofa.
58
APW
27/01/2021 10:45:41 5 10
bbc
Sloppy story. Headline says victims lose up to £45,000 in scams. Then first sentence says that victims lose an average of £45,000. An average means that some lost more and some lost less. Der.
100
27/01/2021 11:20:34 0 0
bbc
You should've gone to Specsavers!
126
27/01/2021 11:32:32 0 0
bbc
Talk about storm in a tea cup. Looks like you have an agenda.
59
27/01/2021 10:58:45 10 4
bbc
I should add that even through the right channels, that big investment returns will always carry a varying degree of risk. An FA can help with this. If you can't afford a potential loss, don't do it. Stick to cash isas, deposit accounts or anything Government backed such as National Savings. The returns are less yes, but you won't loose your capital!
125
27/01/2021 11:31:46 1 0
bbc
Indeed. Investment instruments carry a spectrum of risk & people need to ensure they understand fully, BEFORE investing. But, sometimes, risks are poorly explained. I'm old enough to remember mis-sold,endowment mortgages. And then there were appalling examples of banks forcing smaller businesses into high risk, inappropriate financial instruments, instead of simpler loans.
60
27/01/2021 10:58:53 49 28
bbc
"Victims lost an average of £45,242 "

If 300,000 people lose £45,242 to fraudsters, that's still less than was lost on the £14bn T&T app govt awarded to Harding.

You know the difference between fraudsters and politicians? Fraudsters aren't elected.
Removed
116
27/01/2021 11:25:03 4 1
bbc
I live in hope that, one day, an offense of 'profiteering' will once again be put on the statute books. The pandemic was a prime opportunity to do that. In fact, it has been mentioned in HoC debates a few times. Nowt happened, of course.
123
27/01/2021 11:29:59 7 0
bbc
£190bn lost to fraud...

https://www.bbc.co.uk/news/business-55769991

Electronic money, isn't it great ?
188
27/01/2021 12:09:27 3 5
bbc
Hard to disagree with you on that one! Although h Harding wasn't elected either, so even worse, pure cronyism. Not to mention a track record of failure and being out of her depth technically.
56
27/01/2021 10:56:49 10 3
bbc
In other news, contactless limit to increase to £100...
61
27/01/2021 11:00:52 6 0
bbc
Yeah I though same. Make it quicker for thieves to drain someone account on same day as this article!

I have 2 accounts and transfer small amounts to the card I use for internet shopping/cash card payments. I Never give my main account details to anyone.
127
27/01/2021 11:33:00 0 0
bbc
Very sensible.
150
27/01/2021 11:42:42 1 0
bbc
Better still, use a credit card, then it's not your money that's being taken.
23
27/01/2021 10:41:48 24 2
bbc
Quotation: "Kill one man, and you are a murderer. Kill millions of men, and you are a conqueror." Always seemed bizarre to me that someone, who steals from thousands of people via 'white collar' crime, may well get a sentence that is no worse & maybe lighter than someone, who steals from one person. How about we consider the number of victims & not the number of events deemed criminal..
62
27/01/2021 11:01:06 6 0
bbc
it is said "if you take a little from a lot of people, you are less likely to bee spotted than if you take a a lot form a little number of people".
and it wasn't me who said that :-0
280
28/01/2021 08:39:12 0 0
bbc
Check before posting!
63
27/01/2021 11:02:44 4 4
bbc
People make themselves easy victims through their own greed. A friend of mine almost fell into one of these scams, classic tactics, "banks ripping you off with low interest, why not invest here where you will get 100 times more"... They fall over themselves to give their money away not asking basic questions like , why them? why did they get the call? what do they bring to the party?
112
27/01/2021 11:23:41 1 0
bbc
Greed? Or an aspiration to earn more than they get from banks. When was the last time an average saver got much in the way of interest? Victim blaming is lazy. But, sure, we should all be more sceptical of 'too good to be true' scenarios.
36
27/01/2021 10:47:40 22 2
bbc
I received a scam call from the 'tax man' yesterday using a local number saying I should push a button and pay a debt otherwise a warrant would be immediately issued and i would be arrested.

I don't understand how these things work but how can it be that anonymous people can use our phone network to scam us. Surely they would have set up the number and would leave their details. If not why not.
64
27/01/2021 11:02:53 6 0
bbc
You can buy sim cards in bulk. Some will be duds, but most are okay and usually get used for "22446" style text numbers.
HMRC cant do anything even when you report as that sim is then in the bin.
Its UK based else the fake HMRC would be using a +34 etc number.

The problem here is HMRC are so hard to get hold of, with automated everything. Many end up falling for it.
268
27/01/2021 17:08:51 0 0
bbc
HMRC are a nightmare. Impossible to communicate with when you need them, but go 50p wrong on your accounting somewhere and you will get fined thousands!
28
27/01/2021 10:43:04 25 1
bbc
Much more should be done to attack these scammers. They have phone numbers and websites so it must be possible to identify who set these up. Instead, it seems we're just reacting to the problems and expecting banks to reimburse victims. Maybe there are some Mr Bigs who'd remain at large, but if their underlings were regularly getting hammered there'd be a lot less scamming.
65
27/01/2021 11:02:54 6 1
bbc
Sadly the police are stuck in the dark ages and have no idea on how to fight this type of crime (and it isn't all overseas which they use as a convenient excuse) This is why it is a growing industry.
267
27/01/2021 17:05:33 0 0
bbc
I wish they were a bit n the dark ages. In the old days the local bobby could make an informed choice about having a quiet word, giving a clip around the ear or actually prosecuting. Now everything has to be done by the book and in slow motion.
66
27/01/2021 11:04:47 12 5
bbc
Ooh let me guess.

Sociopaths will blame the victims of fraud.
105
27/01/2021 11:21:32 1 1
bbc
Quod erat demonstrandum..... on this HYS
67
27/01/2021 11:05:17 4 4
bbc
The only winners in investing are those who create the game.
Rest of us are losers.
102
27/01/2021 11:21:00 0 0
bbc
Rubbish. You & I and everyone in UK benefits / will benefit from those who invest. Where do you think pensions come from? The magic money tree?
68
27/01/2021 10:57:50 4 6
bbc
Why don't we teach our teenagers good financial sense
76
27/01/2021 11:09:16 8 0
bbc
It's not the teens losing £45k. Its the people with £45k sitting around, they tend to be older and a little less tech savvy, understanding URLs, https, normal mobile phone numbers etc.
77
27/01/2021 11:09:22 2 2
bbc
It’s not them, it’s the boomers with disposable income ?
89
27/01/2021 11:15:25 2 0
bbc
I think you mean so that this doesn't happen in the future as the next generation goes to work and hopefully save some funds as they grow up.
99
27/01/2021 11:19:43 2 1
bbc
Yes, we should. Nothing to do with this story, though. Targets more likely to be older people, with savings. But perhaps if we teach younger people about critical thinking, about questioning what they're told & what they read, so that they can assess veracity, then that might prevent future generations being scammed in the way current ones are.
177
27/01/2021 11:59:34 0 0
bbc
Parents used to, but Boomer generation & onwards parents either don't have the skills themselves or think it should be someone else who does it & would rather it wasn't done than do it themselves. It's like laptops, any parent of a child of school age or less, who thinks they're not needed or they cannot afford to buy is intellectually or economically ill equipped to be a parent.
51
27/01/2021 10:54:46 10 3
bbc
Unfortunately, scammers can easily falsify the number they are calling from. So when they start a call saying 'How are you?' I always reply 'So what's the weather like in Brighton' (if I recognise the code - but can choose a place at random). Sometimes I say something like 'Your office is very noisy, it sounds like a Boiler Room' (name for a scamming shop). They soon hang up.
69
27/01/2021 11:05:32 3 0
bbc
I teach you some easier ways to get rid of a scammer.
1) Use a softer voice (if male), and say you are a minor and parents are not at home. 80% of scammers just hang up :)))
2) 20% are still on hook and asks only when can they recall to speak with an adult. Offer after 9PM or later, they will understand is a lost call :)))
I offered a couple of tricks. There are more to escape these scammers :)))
81
27/01/2021 11:11:42 3 0
bbc
You do realise they are reading this ?
132
27/01/2021 11:34:34 2 0
bbc
I find that not answering the phone works wonders. I've never been scammed.
193
27/01/2021 12:10:54 2 0
bbc
If I’ve got a few minutes I like to wind them up. Keeping them on the line means giving them less time to called someone else. Never give out personal information. Asking them irrelevant questions usually puts them off their script.
19
27/01/2021 10:38:59 116 5
bbc
What I never understand is how banks say they don't know who owns the account money is transferred to so they can't recover it. Strange as to open any account, you have to provide your name, address, DOB etc and it is checked against the electoral register
70
27/01/2021 11:06:25 38 9
bbc
Anyone would think the banks were aiding and abetting.
Strange because the banks are such trusted organisations... . not!
71
27/01/2021 11:07:23 11 2
bbc
The internet service providers need to remove their websites and track their i[ addresses to help prevent them creating new ones
We need them to step up
93
27/01/2021 11:16:39 5 0
bbc
The reality is that it's nigh on impossible. It's like Sisyphus, I'm afraid. An almost futile uphill struggle. Close one account, twenty more spring up. Overseas, so difficult to track, let along take enforcement action. Not saying they shouldn't try. They must. But we all need to be ultra-cautious.
50
27/01/2021 10:54:02 5 8
bbc
Can’t believes BBC removed my comment as I’d used a mild expletive to describe the fraudsters.

This basic over liberalisation is exactly why people get away with whatever they want.

If you can’t even rebuke them, what chance have the police, fsa, courts or anyone else got?

This probably goes for all crime where the criminal is no doubt usually a victim of something.
72
27/01/2021 11:07:58 3 0
bbc
I think what you're experiencing is more a case of swearing isn't allowed on HYS... rather than liberalisation causing the destruction and decay of society, which is what you seem to be alluding to.
73
27/01/2021 11:08:23 5 1
bbc
Other report - "Fraud is "National Security Threat" - pointed out that nobody is taking the activity of scammers and fraudsters seriously! People are losing confidence in the police as they are overwhelmed, so do nothing!

Since 2010, our population has grown by around 4.5m and the Tories cut police by 20,000. Boris is putting us back to the 2010 position (sometime) but we will still be lacking!
85
27/01/2021 11:14:04 1 1
bbc
Whoever claimed that scammers & fraudsters were not being taken seriously is way off the mark. It's being taken very seriously by businesses & law enforcement. However, swingeing cuts over a decade of austerity won't exactly have helped !!
74
27/01/2021 11:08:37 1 6
bbc
I hear they are taking the word “gullible” out of the OED ?
94
27/01/2021 11:17:07 1 2
bbc
Yes, apparently it's not inclusive enough as it only describes impressionable people ... we need something a bit more 'woke'

Sure it won't be long before all words are removed as they may cause offence to somebody, somewhere.
75
27/01/2021 10:59:02 5 7
bbc
no better than tax avoiders and benefit cheats these fraudsters
80
27/01/2021 11:11:39 5 0
bbc
Err..... On a scale of 1 to 10, I'd say these scammers are far, far, FAR worse than tax AVOIDERS (not illegal) & benefit cheats. Your selection of 'criminals' is most peculiar.
119
27/01/2021 11:26:43 0 0
bbc
Please define the line which if someone pays one penny less then they are a tax avoider, and if they pay equal to or one penny more then they have met their tax obligation.

Please show your working. Please ensure that you cover all financial situations that someone might find themselves in when filling in their tax return.
68
27/01/2021 10:57:50 4 6
bbc
Why don't we teach our teenagers good financial sense
76
27/01/2021 11:09:16 8 0
bbc
It's not the teens losing £45k. Its the people with £45k sitting around, they tend to be older and a little less tech savvy, understanding URLs, https, normal mobile phone numbers etc.
68
27/01/2021 10:57:50 4 6
bbc
Why don't we teach our teenagers good financial sense
77
27/01/2021 11:09:22 2 2
bbc
It’s not them, it’s the boomers with disposable income ?
95
27/01/2021 11:17:33 2 1
bbc
Not always 'disposable'. Many pensioners ruined by having the money they've saved stolen.
42
27/01/2021 10:50:14 6 12
bbc
If you can afford to throw money at a too-good-to-be-true 'investment', you can afford to lose it.
78
27/01/2021 11:09:59 1 0
bbc
how cynical
79
27/01/2021 11:10:33 7 1
bbc
1. Never hand over any details to a company that cold calls you.
2. Never risk what you can't afford to lose
75
27/01/2021 10:59:02 5 7
bbc
no better than tax avoiders and benefit cheats these fraudsters
80
27/01/2021 11:11:39 5 0
bbc
Err..... On a scale of 1 to 10, I'd say these scammers are far, far, FAR worse than tax AVOIDERS (not illegal) & benefit cheats. Your selection of 'criminals' is most peculiar.
154
27/01/2021 11:45:55 1 0
bbc
Agreed. A better comparison would be with a burglar or pickpocket. However the emotional impact on the victim I'd say was more like a vicious mugging.
69
27/01/2021 11:05:32 3 0
bbc
I teach you some easier ways to get rid of a scammer.
1) Use a softer voice (if male), and say you are a minor and parents are not at home. 80% of scammers just hang up :)))
2) 20% are still on hook and asks only when can they recall to speak with an adult. Offer after 9PM or later, they will understand is a lost call :)))
I offered a couple of tricks. There are more to escape these scammers :)))
81
27/01/2021 11:11:42 3 0
bbc
You do realise they are reading this ?
82
27/01/2021 11:12:09 4 4
bbc
There is an old saying: Fools and their money soon part. One golden rule - do nothing until you contact an organistion through its widespread published telephone number and website. Ignore small new financial companies.
143
27/01/2021 11:40:38 1 0
bbc
Please explain, for the benefit of my 91 year old mother, how to identify a small or new financial company.
42
27/01/2021 10:50:14 6 12
bbc
If you can afford to throw money at a too-good-to-be-true 'investment', you can afford to lose it.
83
ike
27/01/2021 11:13:49 2 0
bbc
The thing is that the elderly have been brought up on trust and that’s a bit different from today’s world,
Billions have been payed to the younger generation for claiming furlough and grants they were not entitled to, wait until those investigations are carried out.
84
27/01/2021 11:13:58 7 3
bbc
Ironically, today I received a "phishing" e mail regarding a "non delivery" of an item.

The scam was written in bad English and grammar (1st red flag)

It stated a package which sent to me was addressed incorrectly, but if I confirmed my bank/payment details It would be redelivered to my (wrong) home address. I had 24 hours to respond. (2nd red flag)

You cannot protect people from themselves.
141
27/01/2021 11:38:21 0 0
bbc
Whilst I agree about spotting the "red flags", it is far easier for younger people (and those oldies who used to work in IT) to do so than for someone in their 70s/80s who are not only trying to get to grips with the technology but who might not have a particularly good ability in spelling or grammar themselves.
73
27/01/2021 11:08:23 5 1
bbc
Other report - "Fraud is "National Security Threat" - pointed out that nobody is taking the activity of scammers and fraudsters seriously! People are losing confidence in the police as they are overwhelmed, so do nothing!

Since 2010, our population has grown by around 4.5m and the Tories cut police by 20,000. Boris is putting us back to the 2010 position (sometime) but we will still be lacking!
85
27/01/2021 11:14:04 1 1
bbc
Whoever claimed that scammers & fraudsters were not being taken seriously is way off the mark. It's being taken very seriously by businesses & law enforcement. However, swingeing cuts over a decade of austerity won't exactly have helped !!
86
27/01/2021 11:14:35 1 2
bbc
Never trust any letter, phone call, email or text message and never click on a link in an email especially a shortened one. Always report scam emails to the genuine company. I get several scam emails and phone calls every week. If an "investment opportunity" sounds too good to be true then it will be a scam. Common sense is severely lacking these days so the scammers prosper.
7
Ted
27/01/2021 10:32:11 77 4
bbc
I'd suggest much tougher penalties for fraudsters, confiscate all assets and pensions, give prison sentences. Also, the UK regulators should be more proactive before investors lose money
87
27/01/2021 11:15:07 24 0
bbc
You're making the assumption that these fraudsters are UK-based. UK isn't even in the top 10 for cyber crime.
147
27/01/2021 11:42:02 6 0
bbc
Other reports listed UK at £200 billion for financial fraud and scams. Quite a big number.. Worth reducing?
228
27/01/2021 13:18:12 2 0
bbc
So what? International bank accounts also require credentials to open them. Bankers should take on the cost of prosecuting the criminals in whatever territory they reside in. Follow the money.
262
27/01/2021 16:41:46 2 0
bbc
I have long thought that we would be better off cutting internet connections to some dodgy countries. That would help reduce fraud.
88
ljs
27/01/2021 11:15:09 4 4
bbc
Happens every day and has done of centuries,

BECAUSE PEOPLE DO NOT THINK and are always looking for a quick buck !!!!!!!!!!!!!!!!
Not necessarily. Some victims are simply elderly and too trusting, e.g., used to their husband dealing with the financial side. When events mean that she had to suddenly start to do it, she became the ideal target for the scum who do this. Removed
68
27/01/2021 10:57:50 4 6
bbc
Why don't we teach our teenagers good financial sense
89
27/01/2021 11:15:25 2 0
bbc
I think you mean so that this doesn't happen in the future as the next generation goes to work and hopefully save some funds as they grow up.
90
27/01/2021 11:15:43 0 2
bbc
Ban nuisance calls prison for any nuisance caller.
If it's someone calling you you do not know I regard them as a nuisance caller.
115
27/01/2021 11:24:53 1 0
bbc
Buy a call blocker, they have the capacity to store 5000 unknown numbers.
91
27/01/2021 11:16:34 1 15
bbc
Any unknown caller display gets an ear piercing response from a genuine antique silver police whistle.

punctuated with some colourful language that would make a docker blush and a finale of;

"Well I hope you're Mother is proud of your criminal career choice and you'll sleep peacefully tonight thinking about it"
255
27/01/2021 16:21:18 1 0
bbc
"This is NHS Test and Trace asking you to self-isolate please as you have been in contact with someone who has tested positive for Covid19. Please can you stop swearing and blowing that whistle, we're only trying to help."
51
27/01/2021 10:54:46 10 3
bbc
Unfortunately, scammers can easily falsify the number they are calling from. So when they start a call saying 'How are you?' I always reply 'So what's the weather like in Brighton' (if I recognise the code - but can choose a place at random). Sometimes I say something like 'Your office is very noisy, it sounds like a Boiler Room' (name for a scamming shop). They soon hang up.
92
27/01/2021 11:16:37 4 0
bbc
If you've got the time, play the "How long can you keep them on the line" game.
You know you've won when they start dropping the professional voice and get really irritated. Also, it uses up time that they could be using to scam somone less savvy than your self.
71
27/01/2021 11:07:23 11 2
bbc
The internet service providers need to remove their websites and track their i[ addresses to help prevent them creating new ones
We need them to step up
93
27/01/2021 11:16:39 5 0
bbc
The reality is that it's nigh on impossible. It's like Sisyphus, I'm afraid. An almost futile uphill struggle. Close one account, twenty more spring up. Overseas, so difficult to track, let along take enforcement action. Not saying they shouldn't try. They must. But we all need to be ultra-cautious.
157
27/01/2021 11:47:35 0 1
bbc
You mean like we need to be with Covid!
74
27/01/2021 11:08:37 1 6
bbc
I hear they are taking the word “gullible” out of the OED ?
94
27/01/2021 11:17:07 1 2
bbc
Yes, apparently it's not inclusive enough as it only describes impressionable people ... we need something a bit more 'woke'

Sure it won't be long before all words are removed as they may cause offence to somebody, somewhere.
77
27/01/2021 11:09:22 2 2
bbc
It’s not them, it’s the boomers with disposable income ?
95
27/01/2021 11:17:33 2 1
bbc
Not always 'disposable'. Many pensioners ruined by having the money they've saved stolen.
3
27/01/2021 10:29:37 66 2
bbc
If a deal looks too good to be true, then it probably is!!!!
96
27/01/2021 11:18:07 19 0
bbc
Yep, stellar interest rates or returns being offered should ring alarm bells, W.C. Fields made a movie once called "You Can't Cheat An Honest Man".
260
27/01/2021 16:42:42 0 0
bbc
Ah, yes, I remember the Icelandic bank scandal!
60
27/01/2021 10:58:53 49 28
bbc
"Victims lost an average of £45,242 "

If 300,000 people lose £45,242 to fraudsters, that's still less than was lost on the £14bn T&T app govt awarded to Harding.

You know the difference between fraudsters and politicians? Fraudsters aren't elected.
Removed
98
27/01/2021 11:19:30 1 1
bbc
I'm not suggesting that pensionbee is a scam but I am surprised that they offer to consolidate several pensions into one. The golden rule of pensions is don't have all of your pension money in just one pot.
68
27/01/2021 10:57:50 4 6
bbc
Why don't we teach our teenagers good financial sense
99
27/01/2021 11:19:43 2 1
bbc
Yes, we should. Nothing to do with this story, though. Targets more likely to be older people, with savings. But perhaps if we teach younger people about critical thinking, about questioning what they're told & what they read, so that they can assess veracity, then that might prevent future generations being scammed in the way current ones are.
185
27/01/2021 12:06:25 0 0
bbc
Although the tools used may have changed, scamming has always existed.

I think they should also place the same emphasis on teaching about responsibilities as they do on rights and entitlements.

That includes parents pulling their weight and not relying on others, including the state.
58
APW
27/01/2021 10:45:41 5 10
bbc
Sloppy story. Headline says victims lose up to £45,000 in scams. Then first sentence says that victims lose an average of £45,000. An average means that some lost more and some lost less. Der.
100
27/01/2021 11:20:34 0 0
bbc
You should've gone to Specsavers!