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.
Financial protection post-BREXIT
Huw Reynolds Compliance 2020, 2021, complaints, EEA, EU, FCA, FOS, FSCS, protection, Update
In December 2020, we reminded readers about the expected changes to FSCS protection after the EU withdrawal period ended on 31 December. You can read that article here. The transition did end when expected and with last minute agreement on a trade deal, which was not so certain. However, the agreement did not cover financial […]