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.
