Avoiding Scams

If you are unexpectedly approached about an investment opportunity that seems too good to be true, it probably is. Fortunately there are steps that you can take to spot these scams and avoid risking your life savings.

 Scams: How to spot the warning signs

Read the full guide on how to "Scamproof your savings" from the Pensions Regulator »

Seek Financial Advice

The Financial Conduct Authority recommends that if you have been unexpectedly approached about an investment opportunity that you are interested in pursuing, you should first seek impartial advice from a financial adviser unconnected to the firm that has contacted you.

The yourmoney adviser directory is the largest of it's kind, listing over 20,000 advisers who hold a valid Statement of Professional Standing issued by the professional body (the Personal Finance Society). These advisers are not only registered with the FCA, but have also undertaken rigorous qualifications and are committed to continuing personal development.

Search for a local financial adviser you can trust »

Be on the lookout

See how Clive Osborne, a retired teacher and rock climbing instructor, avoided losing £5000.


How to scamproof yourself

  • Stop. Think about it. A genuine adviser will never rush you into a decision
  • Make sure the adviser is registered by the Financial Conduct Authority at www.fca.org.uk/register
  • Look at the FCA's Scamsmart warning list at www.fca.org.uk/scamsmart - this will tell you the names of investment schemes that are known scams
  • If you are approaching 55 or about to retire, Pension Wise can tell you more about what you can do with your retirement pot. Visit the website at www.pensionwise.gov.uk
  • Before you sign anything, call The Pensions Advisory Service on 0300 123 1047 for information and advice about pension scams
  • If you've already signed the papers, report it to Action Fraud at www.actionfraud.police.uk or call 0300 123 2040