• Contact us
  • About us
  • Digital edition
  • Online archive
Monday, June 16, 2025
Cumberland and Westmorland Herald
  • News
    Risks and strategies for flexible pension drawdown

    Risks and strategies for flexible pension drawdown

    Man arrested after fleeing from police in Penrith

    Man arrested after fleeing from police in Penrith

    £37.7 million to tackle potholes and upgrade roads

    £37.7 million to tackle potholes and upgrade roads

    Over £38,000-worth of fake goods seized at Appleby Horse Fair

    Over £38,000-worth of fake goods seized at Appleby Horse Fair

    New bid for Appleby stallion sculpture revealed

    New bid for Appleby stallion sculpture revealed

    18th century Eden pub sold as owners retire

    18th century Eden pub sold as owners retire

    Tebay’s plans for battery storage unit

    Tebay’s plans for battery storage unit

    Pub landlord must remove Covid canopy

    Pub landlord must remove Covid canopy

    Flower fairies of Kirkby Stephen brighten people’s day

    Flower fairies of Kirkby Stephen brighten people’s day

  • Sport
    Double national triumph for Stuart Robinson

    Double national triumph for Stuart Robinson

    Patterdale’s Eden Eagles make history

    Patterdale’s Eden Eagles make history

    Penrith teen crowned British vault champion

    Penrith teen crowned British vault champion

    Penrith gymnasts represent North of England in finals

    Penrith gymnasts represent North of England in finals

    New boss revealed for Penrith AFC

    New boss revealed for Penrith AFC

    Penrith Panthers celebrate winning season

    Penrith Panthers celebrate winning season

    Darren Edmondson leaves Penrith AFC

    Darren Edmondson leaves Penrith AFC

    Lucy plays key role in county T20 triumph

    Lucy plays key role in county T20 triumph

    Gold for Keith in annual festival of orienteering

    Gold for Keith in annual festival of orienteering

  • Obituaries
  • Nostalgia
  • Online archive
  • Buy Photos
  • Buy your paper
  • North Lakes Living
No Result
View All Result
Cumberland and Westmorland Herald
  • News
    Risks and strategies for flexible pension drawdown

    Risks and strategies for flexible pension drawdown

    Man arrested after fleeing from police in Penrith

    Man arrested after fleeing from police in Penrith

    £37.7 million to tackle potholes and upgrade roads

    £37.7 million to tackle potholes and upgrade roads

    Over £38,000-worth of fake goods seized at Appleby Horse Fair

    Over £38,000-worth of fake goods seized at Appleby Horse Fair

    New bid for Appleby stallion sculpture revealed

    New bid for Appleby stallion sculpture revealed

    18th century Eden pub sold as owners retire

    18th century Eden pub sold as owners retire

    Tebay’s plans for battery storage unit

    Tebay’s plans for battery storage unit

    Pub landlord must remove Covid canopy

    Pub landlord must remove Covid canopy

    Flower fairies of Kirkby Stephen brighten people’s day

    Flower fairies of Kirkby Stephen brighten people’s day

  • Sport
    Double national triumph for Stuart Robinson

    Double national triumph for Stuart Robinson

    Patterdale’s Eden Eagles make history

    Patterdale’s Eden Eagles make history

    Penrith teen crowned British vault champion

    Penrith teen crowned British vault champion

    Penrith gymnasts represent North of England in finals

    Penrith gymnasts represent North of England in finals

    New boss revealed for Penrith AFC

    New boss revealed for Penrith AFC

    Penrith Panthers celebrate winning season

    Penrith Panthers celebrate winning season

    Darren Edmondson leaves Penrith AFC

    Darren Edmondson leaves Penrith AFC

    Lucy plays key role in county T20 triumph

    Lucy plays key role in county T20 triumph

    Gold for Keith in annual festival of orienteering

    Gold for Keith in annual festival of orienteering

  • Obituaries
  • Nostalgia
  • Online archive
  • Buy Photos
  • Buy your paper
  • North Lakes Living
No Result
View All Result
Cumberland and Westmorland Herald
No Result
View All Result
Home Latest
This article appears as part of a paid partnership with Armstrong Watson

Adviser saves client from transferring £80,000 in scam

By Paul Moody, financial planning consultant, Armstrong Watson LLP

by CWH
13 August 2021
in Latest, Sponsored
A A
Share on FacebookShare on Twitter
Man holds empty wallet over laptop

Unfortunately, we are continuing to hear of more people falling victim to scams during the pandemic.

These can take many different forms with some about pensions or other high-return investment opportunities.

Scammers can be sophisticated, opportunistic, appear authentic, using COVID-19 as an opportunity to persuade people to disclose personal or financial information either online or verbally, and whilst they may be likely to target the vulnerable, anyone can be affected or taken in.

All scams are designed to get hold of your hard-earned money. This is done by getting you to reveal your personal details, stealing your information, or even convincing you to willingly hand over the cash.

Action Fraud reported in April that £1.8 million had already been lost to pension fraud this year.

It said there had been 107 reports of pension fraud received in the first three months of 2021, an increase of almost 45 per cent compared to the same period in 2020.

Knowing how to recognise a scam can be extremely difficult. Chances are, you’ve come across the most common type of scams – the spam emails, often from other countries, or attempting seemingly to be from HMRC or your bank.

Spotting scams is getting harder

Growing sophistication means spotting these scams isn’t always easy, but spelling and grammar mistakes, plus unfamiliar links are telltale signs.

If you are in any doubt, ignore or block the message, contact the named organisation directly and never disclose personal information such as bank details, PINs or passwords to any unsolicited contact.

HMRC and banks will never ask you to share personal information in this way.

An example of this sophistication happened to one of our clients last year who was looking for a better return on their Cash ISA.

After a search on the web he found what he thought was a much better return from a very well-known investment provider and made an enquiry.

The person on the end of the line was very helpful and discussed how five products were available paying different interest rates, all reasonably, but not significantly, higher than he was currently receiving.

He was then sent an email along with a 20-page prospectus complete with the well-known company branding.

At this point, the client was mentally committed to transferring his £80,000 Cash ISA.

However, as he had a good relationship with his financial planning consultant he wanted to double-check the interest rate was correct.

Our adviser commented that the interest rate looked quite high, taking into account that deposit rates are at historically low levels due to the COVID crisis, and wanted to look at the email and brochure in more detail.

Alarm bells started to ring as some of the words in the email from the company didn’t look quite right.

The prospectus, however, was incredibly convincing.

Our adviser made contact with the well-known company who confirmed the prospectus had not been issued by them.

They confirmed this was indeed a scam as they didn’t have any products of this nature. The company also then acted and the matter was immediately then passed on to their fraud department.

The experience of the adviser meant he could see through what was a very convincing scam to the public, and saved the client from parting with his £80,000 and all the stresses, strains and angst that would have gone with transferring the monies over.

Paul Moody, of Armstrong Watson
  • For advice and support from a trusted adviser please contact Paul Moody on 0176822039 or email paul.moody@armstrongwatson.co.uk

Related Posts

Risks and strategies for flexible pension drawdown
Expert advice

Risks and strategies for flexible pension drawdown

15 June 2025
£37.7 million to tackle potholes and upgrade roads
Latest

£37.7 million to tackle potholes and upgrade roads

13 June 2025
Pub landlord must remove Covid canopy
Latest

Pub landlord must remove Covid canopy

13 June 2025
How can businesses combat increased pressure on cashflow and profitability?
Expert advice

How can businesses combat increased pressure on cashflow and profitability?

8 June 2025
Patterdale’s Eden Eagles make history
Latest

Patterdale’s Eden Eagles make history

6 June 2025
Appleby Horse Fair: Several cases of animal cruelty
Latest

Appleby Horse Fair: Several cases of animal cruelty

5 June 2025
No Result
View All Result

Stay connected

Facebook Twitter Instagram

Most popular

Take a walk down memory lane

Take a walk down memory lane

13 June 2025
Man arrested after fleeing from police in Penrith

Man arrested after fleeing from police in Penrith

13 June 2025
Innocent drivers get caught up in police stinger operation

Innocent drivers get caught up in police stinger operation

13 June 2025
Risks and strategies for flexible pension drawdown

Risks and strategies for flexible pension drawdown

15 June 2025
Man admits sexually assaulting 16-year-old in Cumbrian town centre

Man admits sexually assaulting 16-year-old in Cumbrian town centre

13 June 2025
Tebay’s plans for battery storage unit

Tebay’s plans for battery storage unit

13 June 2025
Cumberland and Westmorland Herald Logo

33 Middlegate
Penrith
Cumbria
CA11 7SY

Phone: 01768 862313
Email: news@cwherald.com

Registered in England as Barrnon Media Limited. No: 12475190
VAT registration number: 343486488

Explore

  • News
  • Sport
  • Farming
  • Property
  • Obituaries
  • Nostalgia
  • Your view

Useful links

  • Contact us
  • Photosales
  • Online archive
  • Buy your paper
  • Digital edition
  • North Lakes Living
  • Advertise
  • About us

Follow us on

© Barrnon Media Limited 2025

Terms & Conditions / Privacy Policy / Cookie Policy

This website and its associated newspaper are members of the Independent Press Standards Organisation
Review Your Cart
0
Discount
Add Coupon Code
Subtotal
Total Installment Payments
Bundle Discount
Checkout

 
0
No Result
View All Result
  • Home
  • News
  • Sport
  • Obituaries
  • Nostalgia
  • Online archive
  • more
    • North Lakes Living
    • Buy Photos
    • Buy your paper
    • About us
    • Contact us

© 2020 Cumberland & Westmorland Herald