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Scam watch: ‘financial services’ cold callers

Ever had a call from a scammer posing as a financial services provider? They’re persistent and plausible, but beware of divulging any personal details to these cold callers.

A reader told us: I recently had a telephone call from someone claiming to be from a financial services company, regarding a refund of all my banking charges for the last six years. This was allegedly a result of a High Court ruling ‘last week’.

The caller asked for me by name and had my full address, including the postcode. I was already suspicious, so when asked to provide my date of birth ‘to verify my identity’, I refused and tried to establish just who this caller was.

The caller was very persistent, initially sounding plausible, but this veneer began to break down as I became more suspicious. I’m concerned that some readers might be taken in and provide the additional personal information these scammers appear to be attempting to acquire.

Our say on the ‘financial services’ scam

We’ve heard of a number of reports about similar sounding financial services companies with plausible names over the past few months.

You should always be wary of handing over personal details to cold callers, regardless of how much information they already have about you. Our report on identity theft reveals how easy it is for scammers to get this data.

If you’re suspicious about a cold caller’s intentions, it’s worth doing a quick web search for the company’s name and location. Often, this will make it clear whether or not the caller is a scammer. Legitimate companies should be more than happy to give you a phone number to call them back on after you’ve scoped them out.

Have you ever had a suspicious phone call from a supposed financial service company asking for your details?


The only telephone number that I publish in the telephone directory is an 070 number that reaches me anywhere in the world at great expense to the caller and at no cost to me. The only cold calls I receive on this number are from boiler room scammers. These people find my name and address in publicly available registers of shareholders and they look up my number and call me. The very high returns that their scams generate is the only reason that these scammers will bother to call my expensive phone number; most cold callers pay more attention to their telecommunications costs. The boiler room scammers are so arrogant that even when I tell them that I know they’re a boiler room scammer, they still continue trying to sell me their “investments”!

Simply tell them to put all the details in writing and send it to you; 99% of them will refuse to do so,.

Aman says:
29 October 2014

This is so useful!!! Thanks I love you

Fraudsters are now starting to spoof their caller ID so that the victim sees that the phone number of their bank is calling them. See this article from the BBC today: http://www.bbc.co.uk/news/business-29805002

“You should always be wary of handing over personal details to cold callers”

Very bad advice. It should read *You should NEVER had over personal details to cold callers”.