07 November 2017

Fraud Awareness Films – 2. Izzy’s story

Nationwide research* carried out earlier this year has identified that people experiencing loneliness and isolation are four times more likely to fall victim of a scam.

As the fraudsters become more and more sophisticated, it pays to understand the type of situation that could lead to financial loss. By making yourself aware of how criminals operate and what to look out for, you can protect against the risk of fraud.

The video below is the second in a series of films that tells the story of the most common types of scams.

I’ve always been one for putting a bit away. Even when I was a kid I was always squirreling money away, you know, for rainy days.

When I took early retirement I had the time, so I really got into investments; checking out shares, you know, keeping up with the latest developments. I felt like I was becoming a pretty shrewd investor.

Then one day I get this unexpected phone call from a man called Steve, said he was a hedge fund manager and had a great tip for me. Some great shares at a bargain price. Guaranteed to shoot up in value.

He knew exactly what to say and even when I said I didn’t believe him, he was saying things like ‘well it is an unbelievable opportunity’ and ‘that’s how the smart investors make the big money; it was all very convincing.

Of course, it was a scam and I lost a lot of money; course it was. I felt like such a fool.

My family think I’m nuts for falling for it. Maybe I am.

If you’d like to find out how to protect yourself, or someone close to you, from frauds and scams, download the Little Book of Big Scams for free or visit our Fraud awareness pages at nationwide.co.uk

A recent survey of over 55s** has revealed that more than a fifth (22%) of those contacted by a suspected fraudulent investment firm don’t tell anyone about it, and that Brits are more likely to report fly-tipping (81%) than investment scams (63%). So it’s important to tell someone, like your building society or bank, if you think you have been targeted so that others can avoid the same fate.

To avoid falling victim to an investment scam, the Financial Conduct Authority (FCA) advises you to:

  1. Reject unsolicited contact about investments.

  2. Before investing, check the  (This link will open in a new window)FCA Register to see if the firm or individual you are dealing with is authorised and check the  (This link will open in a new window)FCA Warning List of firms to avoid.

  3. Get impartial advice before investing.

To find out more about all the different ways fraudsters could target you, download The Little Book of Big Scams.

It also pays to Take Five to Stop Fraud. This campaign encourages us all to stop, think and take five minutes, before divulging any personal information, whether it's on the phone, online or face to face.

Our Fraud Awareness Film series 

Phishing fraud video

Vishing is a common type of scam and occurs over the phone. Watch Alison’s story so you can spot the signs.

Alison’s story - watch the video
Online dating fraud video

Online dating scams can be heart-breaking for the victims. Watch Walter’s story, to find out more.

Walter's story - watch the video
Lottery fraud video

Lottery scams offer big cash prizes, which could affect your judgement. Watch Clive’s story, so you can spot the signs.

Clive's story - watch the video
Email fraud video

Criminals can hack the email accounts of reputable traders and ask you for money. Watch Clare’s story, to find out more.

Clare's story - watch the video

*The poll of 2,000 UK adults was carried out by Opinium, between 27-31 January 2017.
**Survey carried out by YouGov Plc. Total sample size was 1006 adults. Fieldwork was undertaken between 18th - 24th September 2017.

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