Investment and pensions financial scams
Stay a step ahead of the criminals.
Scammers are almost always trying to steal your money. And they’re getting better at fooling even the most careful people into sharing their private information.
We take a look at investment & pensions fraud and equity release scams - and how you can avoid them.
Investments & Pensions
What's the scam?
Investment scams usually involve someone unexpectedly calling and inviting you to invest quickly in a scheme with very attractive returns and low risk.
They often add pressure by making it a ‘limited time offer’ so that you are tempted into a quick decision.
They also use authentic looking paperwork.
How does it work?
Scammers usually promise to help you ‘unlock’ your pension by transferring money to a 'different pension scheme'.
The pension scheme doesn't exist. It is just a way for the scammers to steal your money.
Retirees and people nearing retirement are targeted because they’re able to access large sums of money.
How do I protect myself?
Always take the time to make proper checks before investing your money.
Check all names and contact details against the Financial Conduct Authority's Register to make sure you’re dealing with a genuine person and firm.
Never share your investment, pension or personal details with someone you are unsure about.
Equity release
What's the scam?
Scammers use different ways to steal your identity with real-looking ads on Google, social media, by posing as comparison sites and by the use of false 'equity release calculators'.
Homeowners looking for equity release are the target. The scammers know they have financial assets and also that they need extra money.
How does it work?
Online forms are used to steal homeowners' personal information.
This is sold on to unscrupulous marketing agencies that may not be Financial Conduct Authority (FCA) regulated.
These agencies bombard homeowners with high-pressure sales calls and high-risk investments.
How do I protect myself?
Check all names and contact details against the Financial Conduct Authority's Register to make sure you’re dealing with a regulated business.
Spotting threats
Robocalls
A robocall is a call that delivers pre-recorded messages through auto-dialing software.
What to do if I receive a robocall?
- Never speak. Hang up immediately
- Never say the word 'yes'
- Don't follow the instructions or press any numbers.
Blocking a robocall
- Landlines: Talk to your phone provider for details
- Mobile phones: Both IOS (Apple) & Android allow you to block calls.
Misleading domain names
Scammers register domain names that look official but are fake. They do this by:
- misspelling a letter in the web address
- or by creating a fake website, that sounds like it's official but isn’t
Unless it is a web domain you recognise and know to be safe, don’t open it. Better still, search online for the correct website.
If our web address isn’t:
Then it’s not us. Make sure you check the spelling of all web links very carefully.
Phishing, vishing, smishing and financial scams
Find out the different ways scammers try to steal your personal information, passwords and banking details.
Phishing
Is that email from us? Is that our website?
Vishing
Is it Legal & General who is phoning you? Is it really us who left you a voicemail?
Smishing
Is that phone text from us?
Report a scam
Something phishy going on?
If you’ve seen, read or heard anything from Legal & General that you think may be fake or a scam, you can report it to the FCA or us
More help & support
Be ready, be wary
Find out how to protect yourself from scammers.
Further reading
How to avoid investment scams on social media
Scammers are using ads on Facebook and other social media sites to lure people into buying fake financial bonds and other investments. We’re going to share some tips to help you spot and avoid them.
Pension Credit: What is it and can I get it?
Learn about this top-up to the State Pension and if you’re eligible to apply.
10 pension myths busted
A lot of people ask us about pensions. Many of them are people who are just starting out on their pension journey. We find that they often ask about the same pension myths. So we’ve put together this article to bust the top ten ones.
How to protect your savings from inflation
Are you losing money without even realising it?
Managing your money through uncertain times
The benefit of a financial safety net.
Pension fees and charges explained
Learn about pension charges and understand how much you’re paying.