News and Knowledge

Black Friday scam warning issued to shoppers ahead of festive season

A warning has been issued ahead of Black Friday to prevent bargain hunters from being scammed.   The warning comes after figures show that there has been a rise in reported losses to online shoppers during the festive season.     According to GCHQ’s National Cyber Security Centre (NCSC) and Action Fraud, clothing, high-end tech…

Online shopping scams you may need to look out for this Christmas

As we approach the end of the year, shoppers may be looking out for Black Friday sales or finishing up on their Christmas shopping hunting for deals.   We share some concerns you may need to watch out for.     E-mail scams and text messages for online shopping Scammers can target victims by sending…

PSG SIPP Limited under investigation – What it means for customers

This week, the Financial Services Compensation Scheme (FSCS) announced that another self-invested personal pension scheme (SIPP) has been put under investigation.   An investigation into PSG SIPP Ltd (PSG) was launched on October 28 after the firm fell into administration earlier this month.     Christopher Allen and Adam Stephens of Evelyn Partners have been appointed…

5 steps to take if you realise you have been a victim of a scam 

In 2024, unfortunately, scams are getting harder to identify as they can seem very genuine, professional and sophisticated.   If you find that you are a victim of a scam, don’t panic. Being scammed can be a very distressing time and can have more than just a financial impact.     Here are 5 simple…

£85,000 to be refunded within five days under new Payment Systems Regulators rules for APP scams

The Payment Systems Regulator have introduced new APP fraud re-imbursement protections.   What is APP fraud? Authorised Push Payment (APP) Fraud is a type of financial crime and happens when individuals are tricked into sending money, under false pretences, to a fraudster via bank transfer. APP fraud is the most common type of financial scam…

Have you lost money investing throughout Fortrade Platform?

Fortrade Ltd is an online trading platform that allows investors to invest in Contract For Differences (CFDs).   Fortrade only offers ‘execution only’ accounts, which means they should not provide clients with any advice. CFDs are considered complex investments and unsuitable for the vast majority of retail investors.     Have you lost money with Fortrade?…

Tenet Group falls into administration as FSCS launches investigations

A Leeds-based financial advice firm has appointed administrators after Tenet Group Limited and its subsidiary firms Tenet Limited, Tenet Connect and Tenet Connect Services collapsed yesterday, June 5th.   As a result of this, the FSCS have now opened an investigation into the firms. The FSCS have said that the FSCS is handling the failures…

SIPP provider Intelligent Money Limited enters administration

Intelligent Money Limited is an investment management firm, ISA plan manager and self-invested personal pension (SIPP) provider.   The company has around 20,000 clients, with around £1.4 billion in assets under management. They are authorised and regulated by the FCA. However, the firm officially entered administration on 28th May 2024.     Why have they…

Fighting authorised push payment scams – Final decision

In December 2023, the Payments Systems Regulator issued their final decision which set out the final details of a new reimbursement requirement policy for all payment service providers.   Fighting authorised push payment scams – A new reimbursement requirement In June 2023 the Payments Systems Regulator issued a statement (PS23/3) which introduced a new reimbursement…

Authorised Push Payment scams labelled the most common scams – fraud and scam complaints to the Financial Ombudsman on the rise

Authorised Push Payment (APP) fraud or scams are the most common type of financial scam in the UK, and it is as simple as tricking someone into sending money under false pretences.   What is APP fraud? APP fraud or scams typically happen when fraudsters manipulate their victims into making payments under false pretences. They…