Fraud Prevention

Guarding You Against Financial Misconduct

Protecting Your Assets is Paramount

Financial misconduct is surging. Fraud spares no one, impacting vulnerable individuals, major corporations, small businesses, and the public sector. High-net-worth individuals and businesses are increasingly targeted due to larger transactions, risking substantial financial losses and reputational harm. Vulnerable groups, notably the elderly, bear the brunt, facing severe psychological and financial repercussions. Vigilance and awareness are vital to shield against this mounting peril.

Understanding Key Fraud Types

  • Impersonation Fraud: Deceptive scammers mimic trusted entities and brands to steal sensitive data.
  • 'Safe Account’ Fraud: Criminals impersonate law enforcement or your bank, coercing you to transfer funds to an alleged 'secure account' at another bank.
  • Investment Fraud: Unscrupulous investment schemes, often hidden behind cloned websites, prey on unsuspecting investors.
  • Romance Fraud: Scammers forge counterfeit relationships on dating platforms or social media, exploiting victims emotionally and financially.
  • Purchase Fraud: Fraudsters peddle non-existent items, soliciting direct bank transfers.

Understanding the Surge in Fraud

Fraudsters capitalise on global events like the cost-of-living crisis to craft new schemes. Vigilance is key.

Fraud vs. Scams: Key Distinctions

  • Fraud may or may not involve the victim's cooperation.
  • Scams manipulate victims into taking action.

Safeguarding Against Scams

  • Exercise caution with unexpected messages or calls.
  • Don't hesitate to terminate overwhelming conversations.
  • Refrain from clicking on links in emails or texts without verifying authenticity.
  • Report scam texts to 7726.

Beware of Ingenious Scams

  • Energy Rebate Scam: Fraudsters deceive customers with bogus emails offering energy rebates.
  • Multi-Stage Scams: Criminals exploit obtained personal information to defraud victims repeatedly.

Spotting Bank Account Fraud

Stay vigilant for these signs:

  • Rushed requests
  • Claims of account jeopardy or owed taxes
  • Requests to download software for payments, refunds, or account setup
  • Solicitation to disclose codes sent via text
  • Encouragement to disregard scam warnings from your bank

Responding to Fraud Incidents

If you suspect fraud:

  • Promptly contact your bank to halt further activity and start recovery.
  • Report the incident to Action Fraud. In Scotland, contact Police Scotland.

Contact Us for Clarity and Assistance

If you receive any suspicious communication that appears to be from TAM Asset Management Ltd, please reach out to us immediately. Please note that TAM will never request your password or sensitive information, as your security is our utmost priority. 

Telephone:         +44 (0) 20 7549 7650