How do I protect myself from investor fraud?

Financial services institutions provide safeguards against this financial crime. The FCA itself imposes protective monitoring procedures on banks and professional services firms to manage investment fraud risk, with these industries being especially at risk of receiving/facilitating the proceeds of these crimes. The obligations of these institutions include identifying potential customers, monitoring account activity, reporting suspicious activity to the National Crime Agency, and having robust policies in place to prevent these activities.  

Seek professional advice 

Always seek professional advice before making any significant financial decision. Individuals must never feel rushed, or pressured, into making investment decisions. 

Use the Financial Conduct Authority’s (FCA) Register 

Use the FCA register to double check whether an investment organisation is regulated by the FCA. If it is, then you will be covered by the Financial Ombudsman Service if things go wrong.   

What to do if you become a victim of Investment Fraud  

Check for identity theft 

It is imperative to check that your identity has not been stolen as a result of investment fraud. This can be done quickly and easily online by checking one’s credit rating. It is also advisable to carry out these checks every few months through a reputable service provider online.  

Seek legal advice 

You may be able to enforce civil as well as criminal actions against the fraudster(s). As such, it is advisable that you seek professional legal advice to explore the options you might have here. 

Take care not to be targeted again 

Criminals may try to re-establish contact, claiming their ability to recover lost money. This is a secondary scam: hang up on any callers and do not reply or follow any links in texts or emails.