Financial scams are increasing and becoming harder to spot.
Over the last 30 years, there has been a major shift in how criminals target people. Gone are the poorly written emails and obvious phone calls. Today’s scams are often polished, personalised, and convincing.
At Manning Gee Investments, we regularly speak to people who say:
“It looked genuine.”
“The email address was almost identical.”
“I felt rushed and didn’t want to get it wrong.”
That reaction is exactly what scammers rely on.
This guide explains how scams work, what warning signs to look for, and where to check or report concerns, so you can stop, pause, and protect yourself.
Why Are Scams Increasing?
According to the Financial Conduct Authority (FCA) and Action Fraud, financial scams are rising year on year, driven by:
- More online activity and digital payments
- Greater use of email, messaging apps, and social media
- Increasing sophistication, including cloned firms, spoofed emails, and fake investment opportunities
Criminals no longer rely on volume alone. They focus on credibility, emotion, and urgency.
The FCA Firm Checker – A Simple First Step
The FCA recently launched its Firm Checker tool to help people avoid investment and pension scams.
Before engaging with any financial firm or adviser, you can:
- Check if the firm is authorised
- Confirm the correct contact details
- Spot cloned or impersonated firms
You can also cross-check details directly on the FCA Register.
If the details don’t match, stop immediately.
Common Places Where Scams Start
Scams are not limited to investments. They often begin in everyday situations.
Online Shopping
If something looks too good to be true, it usually is.
Before buying:
- Check reviews from multiple sources
- Look at the company’s registered address
- Be cautious with brand-new websites
- Where possible, use PayPal or credit cards for added protection
A few minutes of research can prevent a costly mistake.
Emails
Emails remain one of the most common routes for scams.
Warning signs include:
- Slightly altered email addresses
- Unexpected attachments or links
- Requests for personal or financial information
Tip: Click on the sender’s email address, not just the display name. Small differences often reveal a scam.
Phone Calls
Phone scams can feel more persuasive because they are personal.
If a caller:
- Asks for personal information
- Requests urgent action
- Claims to be from a bank, HMRC, or a known firm
Hang up and call the organisation using a trusted number you already have.
Text Messages & WhatsApp
Messages often claim:
- There is a problem with your account
- You have missed a payment
- You need to act immediately
Never click links or reply directly. Pause and verify first.
The Five Psychological Triggers Scammers Use
If something feels “off”, it often is. Most scams include one or more of the following:
1. Authority
The message claims to be from an official, a bank, a solicitor, a doctor, or a government body.
2. Urgency
You are told to act now, often within hours, or face penalties or losses.
3. Emotion
Scammers aim to trigger fear, panic, hope, or curiosity to override rational thinking.
4. Scarcity
You are offered something limited —an opportunity, a refund, an investment, or a cure—designed to create FOMO.
5. Current Events
Scams often reference tax deadlines, cost-of-living pressures, or major news stories to feel relevant and believable.
Cloning Scams: The Most Dangerous Type
One of the fastest-growing threats is cloning.
This is where criminals:
- Copy real firms’ emails, branding, and language
- Impersonate genuine advisers or companies
- Request payments to new or changed bank details
These scams look legitimate.
If a request feels unusual, out of character, or rushed, stop and call the firm directly.
What To Do If You’re Unsure
Our message to clients — and anyone reading this — is simple:
- Stop
- Break contact
- Check independently
- Ask for help
Urgency is a warning sign. You are always allowed to pause.
What If You’ve Been Scammed?
If you’ve been a victim of a scam:
- It is not your fault
- You are not alone
- Help is available
You can report concerns to:
- Action Fraud
- Your bank or card provider
- The FCA (for investment-related scams)
If you are a client of Manning Gee Investments and something doesn’t feel right, call us first. We would much rather reassure you than see you pressured into a decision.
Frequently Asked Questions (FAQs)
How can I check if a financial adviser is genuine?
Use the FCA Firm Checker and confirm the firm’s contact details match exactly.
Are scams only about investments?
No. Scams commonly involve shopping, banking, HMRC, delivery services, and utilities.
Why do scammers use urgency?
Urgency prevents you from stopping to think or check — it’s one of the strongest red flags.
What should I do if I feel pressured?
End the conversation immediately. Legitimate firms will never rush or pressure you.
Can scams affect anyone?
Yes. Scams rely on psychology, not intelligence or experience.
Final Thought
Scams succeed when people feel rushed, isolated, or unsure.
A moment of pause, a second opinion, or a quick phone call can make all the difference.
If something doesn’t feel right — stop, check, and ask.