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.
Questions, questions…
Paul Jay Compliance 2023, FCA, Periodic Review, PI, platform, training, vulnerable, Xplan
As a result of firms needing to implement Consumer Duty this year (and many still don’t appear to have their act together yet), there hasn’t been much output from the regulator in the latter half of 2023. That has changed. In recent weeks the FCA seems to have issued more paper than confetti at a […]