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Warning issued after rise in financial scams

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People need to be on their guard against financial and legal scams following a rise in cases reported to the Citizens Advice consumer service.

Citizens Advice Lindsey is now showing people how to spot scams as it launches Scams Awareness Month.

A total of 1,200 financial and legal scams were reported to the consumer service in the year ending April 2018, a six per cent increase on the year before.

Jenny Barnett, chief executive of Citizens Advice Lindsey, said: “Scammers can make for convincing white collar professionals, especially online, and are skilled at persuading people they are legitimate.

“The stakes are high with financial and legal scams as you can end up losing your savings or pension fund, which can put your long-term financial stability at risk.

“When you get approached about any investment, don’t rush into anything without making sure it’s legitimate first, particularly when you’re contacted out of the blue.”

To help stop more people being fleeced by these types of scams, Citizens Advice Lindsey is sharing tips on how to spot them, including never give out your bank details unless you are certain you can trust the person contacting you, never send money to someone you have never met, if it sounds too good to be true it probably is, be suspicious if you’re contacted out of the blue, even if it’s from a name you recognise and walk away from job ads that ask for money in advance.