Published: 15/10/2025 By Oliver O'Brien
We’ve all heard of how sophisticated and relentless scammers can be, but what is the reality?- The Global Anti-Scam Alliance reports a staggering £1.17 billion was lost to fraudsters in 2024, of which 7,767 cases and £144m was from investment scams.
- The Financial Conduct Authority revealed almost 5,000 scams impersonating them were reported in the first half of 2025
- Cifas reports that people lose an average of £1,400 per scam and 71% of victims didn’t report it to the police.
- ActionFraud report that 22% of over 55s and 32% of over 75s believe they’ve been targeting by scammers in the last 3 years
Scammers are always evolving and finding new tactics to exploit gaps in financial systems. With the advent of AI “deepfakes” scammers can impersonate well-known brands and even celebrities, making it very difficult for consumers to distinguish between legitimate and fraudulent opportunities. The good news is that there’s plenty of help there to ensure you don’t fall prey them.
How to spot a scam?
Identifying a scam before it ever has a chance to affect you is the best prevention. They often they will have tell-tale signs to notice, such as:
- Unsolicited contact / cold calling
- Pressure to act quickly
- Confusing jargon or legal speak to confuse & downplay risk
- Promising tantalising or even guaranteed returns
- Repeated contact and inability to accept no
- Asking you to keep it a secret
- Professional looking marketing brochures but minimal substance
- Esoteric investments such as cryptocurrency or foreign hotels
- Emails and website URLs that don’t match the legitimate ones
How to stay safe?
- Consider anybody approaching you, unsolicited, with investments as suspicious
- Talk to an expert (like tba wealth management!) and make sure they are regulated and authorised by the Financial Conduct Authority
- Ask a partner, family member or friend about it
- Check the register to ensure they are authorised to sell or advise on investments Financial Services Register
- Check if they are based overseas and outside of UK Regulatory structures like the Financial Services Compensation Service (FSCS)
- Use the FCA’s Scamsmart tool
- Remain calm and never commit, seek advice before making any decisions
Remember – if it sounds too good to be true, it probably is!
Speak to a tba adviser today to ensure your investments are in good hands