MP says ‘be scam smart’ after local CAB fraud calls

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Local MP Sir Robert Smith is supporting the launch of a new awareness campaign to protect those most at risk of investment fraud.

Following cold calls claiming to be from the Citizens Advice Bureau in Deeside and Donside last month, this campaign is hoped to highlight the dangers of becoming victim to scammers.

Finance regulator the Financial Conduct Authority (FCA) launched the new campaign this month to warn people about investment fraud and how to spot a potential scam. Investment scams generally involve unexpected phone calls and high-pressured sales tactics, for products which often do not exist, including land-banking schemes, carbon credits and rare earth metals.

Those most at risk are often retired people looking to make investments. As well as protecting themselves from investment fraud, the FCA is calling on people to report suspected scams, either on their website or by calling Action Fraud on 0300 123 2040.

Sir Robert said: ““It’s important to know how to spot the signs of a potential scam, and encourage friends and family to be alert to a deal that seems too good to be true. The FCA’s ‘Scamsmart’ website is a useful tool for anyone who is considering an investment. It is also important to remember to seek independent financial advice from a regulated professional before making any decisions.”

Scams are often difficult to spot and appear genuine. Anyone considering investing is encouraged to consult www.fca.org.uk/scamsmart.