Protect your cash from scammers

Fraud now comes in surprising guises so it pays to stay one step ahead

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Scams are getting ever more convincing, and remain on the rise, with a report finding one in four adults encounters them every week. The research was released by the Global Anti-Scam Alliance, in partnership with fraud prevention service Cifas and Tietoevry Banking. And they warn that people need to keep on their toes and spot the warning signs. Here are three common scams to look out.

INVESTMENT AND PENSION SCAMS

"Investment scams, including cryptocurrency scams, are how fraudsters try to convince people to part with their money through the offer of above-average levels of return, at what appears to be minimal risk," says Sarah Lenette, financial crime specialist at Starling Bank.

"These scams can apply to both our general savings and finances, as well as our pensions. The fact that many people save for pensions means they can be a prime feeding ground for scammers."

These types of scams often originate from social media platforms like Instagram.