News & Insights

Helping You Avoid Fraudsters

The rise of the digital age has opened up a world of possibilities where finances and investments are concerned. However, the flip side is a rising threat from fraudsters. Whether you’re tech-savvy and know exactly what to look out for, or you’re nervous about conducting transactions online, it makes no difference; anyone can fall prey to a scam or fraud.

While there are certainly ways to protect yourself from fraudsters – including understanding how scams work and what you need to do to protect your personal information – it’s also crucial to know what to do should the worst happen and you feel you’ve been scammed.

A Rise In Fraudster Activity

From texts that seem to come from your bank to emails you’d swear were sent by money transfer services to fully blown fake websites, scammers aren’t shy about their tactics when it comes to defrauding people of their hard-earned cash.

Scammers and fraudsters can employ the latest technology to aid their plans. Yet they’re also adept at exploiting situations and manipulating emotions to build trust with you, create a sense of panic or urgency that compels you to take action, and then convince you the best course is to divulge your details. This may be over a text or email. However, it can also be through a phone call, on which you are fully convinced you’re speaking to your bank or another valid institution with a reasonable reason to ask for those details.

And it’s not just bank accounts that need protecting from potential fraudsters. Scammers will also target investment accounts, pensions, and even insurance. Vigilance is essential, particularly now, as we’re seeing a rise in the number of fraudulent activities taking place. This often takes the form of fraudulent payment requests, which occur when a client’s email has been compromised. With scammers controlling customer email accounts, they may request large pay-outs from their investments and direct those funds to fraudulent bank accounts.

Should their request be successful, that money is rapidly transferred overseas, making it tough to recover once the fraud is discovered. Unfortunately, this can happen to anyone, even financial advisers!

How Do We Protect Clients’ Investments?

We contact clients directly through a known or registered phone number. Where possible, a face-to-face meeting is arranged to ensure the instructions are legitimate. We can also consider extra verification options, such as asking questions only a genuine client would know.

Other News

Guide to buying a property in Ireland as a non-resident

Whether you’re after breath-taking scenery, incredible city vistas, or affordable property, Ireland is consistently placed near the top of the list for favoured expat countries; and with good reason. The Emerald Isle is unique for offering both mountainous highlands and gorgeous lowlands, as well as architecturally impressive buildings. With seaside and inland home locations, you’ll […]

Read More

Investment Cons and Misleading Deals

Blacktower FM News

Social Media is now a prime area that investment scams are targeting.  Be careful of very clever advertising using your friends to lure you in.  

I am came across one very recently on Facebook where a friend of mine had supposedly ‘liked’ a company that claimed to compare rates of investment interest from all providers available for Expats in Spain.  The rates offered looked extremely good, as an IFA I am supposed to know all the best rates available so I was intrigued to know more.

Read More

Select your country

Please select your country of residence so we can provide you with the most relevant information:

You are currently viewing the Blacktower Financial Management EU website.

You may be looking for the Blacktower United States website.

Blacktower United States > X Stay on this site

Or choose your country.