Financial Scam Follow Up

Please refer to our previous article regarding a financial scam in the financial services industry here. One of our clients has kindly supplied the following information

The adviser received an email in December purporting to be from one of their wealthiest clients, stating that they were in the Ukraine and that all their money had been stolen. They had managed to keep their passports but now needed funds to fly home urgently.
 
The fact that the email came from the client’s email address looked genuine, but it was in broken English; nevertheless, that could have been because the clients had just been mugged and would therefore have been extremely upset.
 
The adviser did not respond to this email and waited for any further instruction on the basis that if the clients really were in a desperate situation, then they would have followed up, contacted their family, etc. 
 
Finally, the adviser rang the client who confirmed that they had been hacked and requests had gone to everyone in their address box.

Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.

ATEB Compliance offers compliance and regulatory advice.

ATEB Suitability provides report writing software for the financial services market.

Our View

If it doesn’t feel right, it probably isn’t!

Action Required By You

For information only. Be vigilant, as online crime is becoming more sophisticated.

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About the Author

Steve is an ATEB Director and has a deep understanding of all matter regulatory, built up over his 30 years + in the industry. With a training background and a technical brain, he overseas numerous complex projects and client implementation work.

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