COVID-19 and fraud

5 min read 19 Feb 20

Summary: In these challenging times, there has been an increase in the number of fraudulent scams. Individuals are at increased risk of being exposed to financial scams – including those involving phishing emails and cold calls – in an attempt to obtain personal/sensitive information.

Criminals are exploiting these times for their own gain; they use well planned, sophisticated methods in an attempt to catch you off-guard. Be extra vigilant and do not respond to any correspondence which you are unsure about – letters, emails, phone calls, text messages.

For further guidance on how to protect yourself against fraud please see our tips on fraud prevention and online safety. Please also visit our security pages to find out more about these scams. The City of London Police also have a website dedicated to fraud prevention, which has daily updates on new frauds, as well as advice on what to do if you have been a victim of fraud - www.actionfraud.police.uk

If you have concerns regarding the legitimacy of any communication, or you have received any suspicious communications claiming to be from M&G, please contact us immediately.

Recent issues

If you have been approached regarding Deposit Fixed Rate Saver, Fixed Rate Deposit Bond or Fixed Interest UK Growth Bond products please contact us as these are known to be linked to fraudulent activity.

We have also been made aware that customers of financial services organisations have been contacted by fraudsters claiming to be the police undertaking an ‘investigation’ into companies such as ourselves. Clients are then asked to withdraw some of all of their holdings for ‘review’ as part of the fictitious investigation. The Police, financial services companies or the FCA will never contact you to form part of an investigation of this nature, and will not ask you to withdraw funds from your account for this purpose. Should you be contacted, please hang up – and if using a landline, ensure a dialling tone can be heard – and call your local police station or Action Fraud, not the number provided on the call.

Phishing emails

This short video highlights how you can stay vigilant and avoid falling for phishing emails.

Smishing

This short video highlights the signs to look out for in fraudulent text messages.

Vishing

This short video highlights the signs to look out for in a fraudulent call or voicemail left by a scammer.

The value of investments will fluctuate, which will cause prices to fall as well as rise and you may not get back the original amount you invested. Past performance is not a guide to future performance.

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