FCA warns against financial scams during Covid-19 turmoil

  • Short read

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.

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