Avoiding scams and swindles
Scams and swindles are schemes designed to cheat you out of your cash.
They come in many forms and are getting more sophisticated all the time. So, even if you think you would never be fooled, make sure you remain sceptical about offers that seem too good to be true - they usually are!
If you experience mental health problems, you may have periods where you are more vulnerable to such schemes. Remember to err on the side of caution and to ask someone else (a friend or other support person) if you are unsure.
If you have been the victim of one of these scams or have been tempted by one of the offers then don't feel guilty as this sort of thing happens to lots of people. If you feel very shaken or upset by them, do seek support, talk to a trusted friend, contact your local Mind association or ring the MindInfoLine on 0845 766 0163. You can report a scam on the Consumer Direct website from the Office of Fair Trading.
Common scams
- Identity fraud - someone impersonates you without your knowledge, often by stealing discarded or lost documents.
- Advance fee schemes - letters or emails that offer you vast sums if you make payments up front.
Investment scams
- Share scams (also known as boiler rooms) - a stranger rings you out of the blue and tries to offer you shares in a company you have never heard of.
- Affinity fraud - investment scams that target members of a group, such as a community or a religious, ethnic, elderly or professional group.
- Chain letters - letters or emails that contain a list of names and guarantee you a huge return for your small initial investment.
Online scams
- Fund transfer scams - require you to use your bank account to transfer money in exchange for a commission or payoff. If you don't get ripped off,there is a danger of beingprosecuted for money laundering.
- Online fraud (phishing) - fake websites (often fake banking websites) that crooks use to try and get your login details. A good rule to avoid these is to never click a link in an email that seems to be from your bank - always go and type the bank's website address directly in your browser.
If you are contacted by anyone offering the above then put the phone down on them, delete the email or shred the letter. If you are worried about dealing with people who contact you and aren't sure if what they're offering is genuine then seek help before responding. You could ask a friend, your local Mind association or Citizen's Advice.