Scammers are increasingly leveraging the coronavirus pandemic as a means of targeting savers and investors, with vulnerable consumers at the most risk, the Investment Association has warned.
The IA said this morning (29 April) it has seen growing examples of scammers using techniques such as phishing and "smishing", in addition to more extreme and "aggressive" tactics such as posing as a police officer, in efforts to defraud savers. Coronavirus-related attacks come at a time of increasing cyber crime, with the number of such offences reported to the National Fraud Office jumping from 273,598 to 306,126 between 2017 and 2018. Similarly, there is a growing trend of cyber attacks on UK financial services firms, with the Financial Conduct Authority reporting last year a 480% ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
