{"id":2375,"date":"2022-06-01T10:39:35","date_gmt":"2022-06-01T10:39:35","guid":{"rendered":"https:\/\/family-matters.co.uk\/?p=2375"},"modified":"2022-06-01T10:39:35","modified_gmt":"2022-06-01T10:39:35","slug":"how-to-avoid-estate-planning-scams","status":"publish","type":"post","link":"https:\/\/family-matters.co.uk\/uncategorized\/how-to-avoid-estate-planning-scams\/","title":{"rendered":"How To Avoid Estate Planning Scams"},"content":{"rendered":"

Email, phone call and text message scams have been around for years but there seems to be an ever-increasing number in circulation of late. Whether it’s text messages asking for payment charges from \u2018Royal Mail\u2019, to offering you support and advice on creating <\/span>lasting powers of attorney<\/span><\/a>, scams are becoming more and more sophisticated all the time, even going as far as cloning investment firms.\u00a0 To talk to us about our<\/span> Estate Planning Solutions<\/span><\/a>, for advice on <\/span>Trusts<\/span><\/a>, <\/span>Lasting powers of attorney<\/span><\/a>, or our <\/span>Will Writing Service<\/span><\/a>, <\/span>get in touch today<\/b><\/a>.<\/span><\/p>\n

While it\u2019s always been important to be wary of unsolicited contact claiming to be from financial providers, the recent increases mean just about anyone is likely to be targeted.\u00a0<\/span><\/p>\n

According to the <\/b>BBC<\/b><\/a>, victims lost an average of \u00a345,242 last year after investing with fraudsters imitating genuine investment firms. <\/b>More than \u00a378m was lost in total and reports of clone firm investment scams rose by 29% in April (at the time of the first national lockdown) compared with the previous month.<\/span><\/p>\n

How Do Investment Scammers Work?<\/h3>\n

Fraudsters use increasingly sophisticated and elaborate methods to trick ordinary people out of their cash. To appear legitimate, they often steal the identities of genuine, reputable companies, which is known as \u2018cloning\u2019. This way, victims think they are dealing with the genuine, often well known, firm. Criminals often target their victims by cold calling and using high-pressure sales techniques to persuade them to part with their cash. There is also a technique called \u2018spoofing\u2019 during phone calls which makes the number they are dialing from seem genuine, as if it were from your bank, when it isn\u2019t. It\u2019s also not unusual to see scammers use social media, email or even letters to hook in their victims. In most cases, the crooks will try to force the victim into action by claiming there is only a small window to invest before the opportunity disappears.<\/span><\/p>\n

How Do I Spot Estate Planning Scams?<\/h3>\n

Investment scams are often difficult to spot because they’re designed to look like genuine investments. The scammers may use professional looking websites and documents and sound personable and knowledgeable if they call you. However, there are several tell-tale signs that suggest an investment opportunity is a potential scam or at least, risky, such as:<\/span><\/p>\n