In these uncertain times, criminals have been using the COVID-19 outbreak to scam members of the public, particularly the most vulnerable.

Action Fraud5 revealed there had been a massive 400% increase in reporting of scams in March – the majority of which related to online shopping scams, with victims purchasing protective products (such as face masks) that failed to arrive.

Other examples involved phishing (or ‘smishing’), where scammers attempt to trick victims into clicking on a malicious link in an email or text message, and lender loan fraud, whereby victims are offered access to quick cash in return for an upfront fee.

Keep safe

The government has issued specific guidance6 reminding people to be vigilant. This can be found here www.gov.uk/government/news/ be-vigilant-against-coronavirus-scams

Remember:

– Reject offers that come out of the blue – Don’t click on links from senders you don’t know – Be wary of deals that sound too good to be true – Never give out personal details – Take the time to make checks and seek financial guidance. Here to help If you are unsure about any financial opportunities, please contact us first. 5Action Fraud, 2020 6Gov.UK, 2020

It is important to take professional advice before making any decision relating to your personal finances. Information within this page is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK.

Tax and Estate planning are not regulated by the Financial Conduct Authority

The value of pensions and investments can fall as well as rise. You may get back less than you invested.

Will writing is not regulated by the Financial Conduct Authority. Quilter Financial Planning Ltd are not responsible for any will writing advice.