FCA warns against financial scams during Covid-19 turmoil

The FCA has warned consumers against financial scams being perpetrated during the Covid-19 turmoil including: 

• Payment of upfront fees for loans or credit one never gets; 
• Advice  to invest or transfer existing investments into non-standard investments;
• False claims as insurance company representatives for sale of insurance products;
• Cold calls, emails, texts or WhatsApp messages stating that one's bank is in trouble due to the coronavirus crisis and pushing him/her to transfer money to new banking details etc.