Lockdown investment scams cost savers £4m - IA

The IA said on Tuesday (14 July) that fraudsters have increasingly been using "sophisticated targeting of victims" such as creating fake price comparison websites and cloning legitimate brands to produce fake documentation. Professional Adviser's sister title Investment Week understands the scams began in late 2019 with one firm's brand targeted in particular, but the majority of these incidents have been since the lockdown began in March. Fraudsters are also employing sponsored Google and Facebook links and harvesting personal details from fake call centres, while in some cases scamm...