Scammers are almost always trying to steal your money. And they’re getting better at fooling even the most careful people into sharing their private information. 

We take a look at investment & pensions fraud and equity release scams - and how you can avoid them.

Investments & Pensions

What's the scam?

Investment scams usually involve someone unexpectedly calling and inviting you to invest quickly in a scheme with very attractive returns and low risk.

They often add pressure by making it a ‘limited time offer’ so that you are tempted into a quick decision.

They also use authentic looking paperwork.

How does it work?

Scammers usually promise to help you ‘unlock’ your pension by transferring money to a 'different pension scheme'.

The pension scheme doesn't exist. It is just a way for the scammers to steal your money.

Retirees and people nearing retirement are targeted because they’re able to access large sums of money.

How do I protect myself?

Always take the time to make proper checks before investing your money.

Check all names and contact details against the Financial Conduct Authority's Register to make sure you’re dealing with a genuine person and firm.

Never share your investment, pension or personal details with someone you are unsure about.

Equity release

What's the scam?

Scammers use different ways to steal your identity with real-looking ads on Google, social media, by posing as comparison sites and by the use of false 'equity release calculators'.

Homeowners looking for equity release are the target. The scammers know they have financial assets and also that they need extra money.

How does it work?

Online forms are used to steal homeowners' personal information.

This is sold on to unscrupulous marketing agencies that may not be Financial Conduct Authority (FCA) regulated.

These agencies bombard homeowners with high-pressure sales calls and high-risk investments.

How do I protect myself?

Check all names and contact details against the Financial Conduct Authority's Register to make sure you’re dealing with a regulated business.

Report them to the FCA if they’re not regulated.

Block email addresses and phone numbers if they won't stop contacting you.

Spotting threats

Robocalls

A robocall is a call that delivers pre-recorded messages through auto-dialing software. 

What to do if I receive a robocall?

  • Never speak. Hang up immediately
  • Never say the word 'yes'
  • Don't follow the instructions or press any numbers.

Blocking a robocall

  • Landlines: Talk to your phone provider for details
  • Mobile phones: Both IOS (Apple) & Android allow you to block calls.
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Man staring at laptop

Misleading domain names

Scammers register domain names that look official but are fake. They do this by:

  • misspelling a letter in the web address
  • or by creating a fake website, that sounds like it's official but isn’t

Unless it is a web domain you recognise and know to be safe, don’t open it. Better still, search online for the correct website. 

If our web address isn’t:

Then it’s not us. Make sure you check the spelling of all web links very carefully.

Phishing, vishing and smishing

Find out the different ways scammers try to steal your personal information, passwords and banking details.

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Phishing

Is that email from us? Is that our website?

Find out about phishing
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Vishing

Is it Legal & General who is phoning you? Is it really us who left you a voicemail?

Find out about vishing
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Smishing

Is that phone text from us?

Find out about smishing

Report a scam

Something phishy going on?

If you’ve seen, read or heard anything from Legal & General that you think may be fake or a scam, you can report it to the FCA or us

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More help & support

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Be ready, be wary

Find out how to protect yourself from scammers.

Get yourself protected

Further reading

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How to avoid investment scams on social media

Scammers are using ads on Facebook and other social media sites to lure people into buying fake financial bonds and other investments. We’re going to share some tips to help you spot and avoid them.

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