The UK is banning cold callers from selling financial products in a bid to crackdown on scams. The blanket ban – which covers unsolicited calls offering any financial product – also extends to legitimate schemes and investments.
Reports of investment scams have risen by almost 200% in just five years according to the Financial Conduct Authority (FCA). And the good news is that a staggering £2 million was saved by investors in 2022, as they informed the FCA about a suspected scam before money was lost.
Santander has warned that cryptocurrency is being used to trick people into investing in fraudulent investment scams.
Last month, steelworkers were invited to a roadshow on the Financial Conduct Authority’s (FCA’s) pension redress scheme. But, for many of those affected by British Steel pension mis-selling, the invite arrived after the event was held.
While, in this case, an ex-footballer was the perpetrator, many professional athletes are being targeted by sports investment fraud scams.
Today, the Financial Services Compensation Scheme (FSCS) has announced the failure of Better Retirement Group (BRG).
A group of social media influencers has been charged in the US with conspiring to manipulate stock prices after they promoted themselves as successful traders online and hyped market-traded securities to followers.
As lawyers, we are not able to advise clients on any type of financial investment, including cryptocurrency, but we advise people to be wary.
If you were advised to transfer your pension from the BSPS and have subsequently found yourself worse off, you may have a claim with the Financial Services Compensation Scheme (FSCS). The FSCS exists to protect consumers when financial firms fail.
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