Financial Scam

Scams take many forms, and fraudsters constantly adapt them. Common types include investment scams promising high, guaranteed returns; phishing messages pretending to come from banks, delivery companies or tax authorities; romance scams built on fake online relationships; fake online shops; and impersonation scams, where criminals pose as police, bank staff or family members in urgent need.

For example, a person might receive a call from someone claiming to be from their bank's fraud team, saying their account is at risk and asking them to move money to a "safe account". The safe account belongs to the criminal.

Scams often share warning signs: pressure to act immediately, promises of high returns with little or no risk, requests for secrecy, unusual payment methods such as gift cards or cryptocurrency, and unexpected contact asking for personal or banking details.

Protecting yourself means pausing before acting, verifying requests by contacting organisations through official channels, never sharing passwords or one-time codes and checking whether investment firms are authorised by the financial regulator. Reporting scams quickly to your bank and the authorities can sometimes help recover money.