Whilst it remains to be seen if a ban on cold calling will make any real difference to the scam industry, the experts at KIS Finance have offered a few quick tips on ways to avoid being scammed over the telephone.
Always hang up on cold calls
Genuine finance companies and bodies such as HMRC will never call you or text you out of the blue to either offer you a financial product or to discuss your personal financial situation. If you receive a call just hang up. If you receive an email or text don’t respond as it is likely to be a scammer on the lookout for victims, so just ignore it. If you are worried that an email might legitimately be from your bank, then don’t reply to the email, but go to their official website and message them from there.
Don’t give out personal details
Never give out your personal details on the phone, even if the caller says they are from your bank or another business that you use. Hang up and call the bank/company back using the correct contact details from their website.
However, be wary of calling straight away from your own phone, as the fraudster might still be on the line and able to listen in on your call. Instead, use a different phone to ensure that your personal information stays safe.
If it seems too good to be true it’s almost certainly a scam
If you are offered an amazing rate of return on an investment or a chance to invest in an unusual opportunity, then do your homework. If something looks too good to be true it’s almost certainly a scam and designed to draw you in. Never part with your money without looking into things carefully and perhaps discuss it with a trusted friend or relative if you are in any doubt.
Take your time
If someone is pushing you to make a quick decision or is telling you the offer is only available for a limited period of time, then be cautious. Legitimate companies won’t pressurise you to make a decision.
