Navigating a digital minefield: Advisers on dealing with fraud

With fraud on the rise, IFAs share how they are combatting the threat

Sahar Nazir
clock • 7 min read

In the ever-evolving financial landscape, the challenge of combatting fraud and scams has never been more pressing. With the rapid advancement of technology, financial advice firms are facing the challenge of staying vigilant to protect their clients and assets from increasingly sophisticated attacks. Sahar Nazir finds out more…

A fifth of IFAs have no protective measures in place to combat fraud and scams, according to recent research from Opinium. And yet just over one in three IFAs (35%) report being subject to scam and fraud threats. The firm also found that 35% of advisory firms do not currently train their staff in how to spot potential threats and protect themselves and their businesses. This was despite 25% of IFAs saying they feel more concerned about scam and fraud attacks than they are about their organisation's future strategy. Comprehensive training programmes It is no secret that regular train...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Lumin Wealth adds £50m in AUM with latest acquisition deal

Lumin Wealth adds £50m in AUM with latest acquisition deal

Bought Reading-based Professional Financial Centre

Jenna Brown
clock 13 February 2025 • 1 min read
The importance of advisers' digital presence in financial services

The importance of advisers' digital presence in financial services

'Inconsistency can be just as damaging as invisibility'

Setul Mehta
clock 12 February 2025 • 3 min read
MPs warn £5.5bn tax evasion cost could be 'vastly underestimated'

MPs warn £5.5bn tax evasion cost could be 'vastly underestimated'

HMRC ‘does not have a clear objective or strategy to tackle the issue’, committee finds

Jen Frost
clock 12 February 2025 • 3 min read