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Fraud -
Protect yourself from the latest fraud scams
Fraudsters have scammed people out of hundreds of millions of pounds using everything from fake concert tickets to payments for job applications. We take a look at three common schemes and the simple steps you can follow to keep yourself safe.
Unfortunately, fraud is a growing threat and criminals are using increasingly sophisticated methods to deceive even the most cautious individuals.
In this article, we highlight three common fraud schemes—ticketing fraud, payment in advance fraud, and investment fraud—and provide tips to help you avoid becoming a victim.
Ticketing fraud
Imagine securing tickets to a highly anticipated event, only to discover when you arrive that the tickets are fake.
Ticketing fraud is a common scam where criminals set up fake websites or social media profiles to sell fraudulent or non-existent tickets for major events such as sports, music, or theatre. These fake sites can closely mimic legitimate ones. Often, subtle URL changes are the only indicator of their fraudulent nature. Scammers may also use images of genuine tickets to make their schemes more convincing.
How to protect yourself:
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Be cautious of offers for tickets online, via email, or through social media
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Question deals that seem too good to be true
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Avoid paying for tickets by bank transfer; use secure payment methods such as a debit or credit card
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Always check URLs and email domains for discrepancies
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Research companies and read their reviews before giving them your information or your money
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Beware of offers to meet outside a venue to exchange tickets – this is likely a scam.
For peace of mind, always book tickets through official sellers who are members of the Society of Ticket Agents and Retailers (STAR).
Payment in advance fraud
Payment in advance fraud, or 'advance fee' scams, involve criminals convincing you to pay an upfront fee for goods, services, loans, insurance, prizes, job applications, or training programmes. The scammers often create a sense of urgency to make you pay quickly by bank transfer. They often claim that the fees relate to administration, insurance, deposits, or delivery, and are fully refundable.
How to protect yourself:
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Remember, criminals often rush or pressure you into paying a fee in advance
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Pause and think before sharing your money or personal information
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Never pay a fee for a job application or to claim a prize
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Be sceptical of winning competitions you did not enter – this will be fraudulent
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Research and read reviews on companies that contact you unexpectedly
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If you are contacted by phone, verify the contact by hanging up and calling the company back on a trusted number, which can be found via their official website.
In 2023, payment in advance fraud resulted in £31.3 million in losses.[1] Stay alert and protect yourself.
Investment fraud
Investment fraud is the second most common scam in the UK.[2] It involves criminals creating fake investment opportunities to lure you into parting with your money.
Scammers may use phone calls, emails, social media, and ads to contact you. They often claim to be financial advisors and set up cloned websites and paperwork with official branding to appear credible. They may also send you initial payments to show “returns” on your investments to convince you to invest more money.
How to protect yourself:
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Avoid clicking on social media ads about investment opportunities
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Be wary of investment ads endorsed by celebrities – many are fake or can be linked to illegitimate investments
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Never respond to a cold call about an investment opportunity
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Remember that high returns with low risk are red flags and there is no such thing as a guaranteed return
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Take your time to verify opportunities before committing; don’t be rushed
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Check a firm is regulated by visiting the FCA Register
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Check if a regulated firm has been cloned by fraudsters by checking the FCA Warning List.
In 2023, there were over 10,000 cases of investment scams with a reported £107.8 million lost.[3] Protecting your investments requires caution and due diligence.
Useful tools
With so many fraud schemes happening, experts at Arbuthnot Latham recommend you follow the advice of Take Five - To Stop Fraud before making any financial decisions when you are being pressured.
Fraud agency Cifas have partnered with GetSafeOnline to provide a tool that allows you to check a website address to see if it is safe. The tool and more information can be found here.
If you suspect you have been a victim of fraud, contact us immediately on 020 7012 2500 (available 24 hours).
Your financial wellbeing is our top priority
Stay informed and cautious to protect yourself from fraud. Always remember to take your time, verify the legitimacy of offers, and use secure payment methods. Consult your relationship manager or financial adviser for guidance when in doubt.
Together, we can safeguard your wealth and peace of mind.
Helping you go further
The good news is that where there are concerns or problems, there are also solutions. We work with our clients to create a long-term financial plan, designed around their specific needs. Our aim is to support and empower them to take ownership of their financial wellbeing.
Author -
Munanga Mubipe
Communications Executive
Munanga Mubipe is a Communications Executive at Arbuthnot Latham. She joined the Marketing team in September 2023, where she focuses on applying the Financial Conduct Authority’s Consumer Duty regulation to the bank’s communication with clients.
She has a legal background, holding an LLB in Law from the University of Exeter and practical experience in the industry. Munanga has a keen interest in fraud and financial crime.