Recent phone scam – report from Transact

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Please be aware that over the last few weeks there have been reports of a phone call scam targeting Clients like ours. This scam involves an automated phone call in which the receiver is prompted to “press 1 if you did not authorise the claimed transaction”. The transaction has been consistently reported as a withdrawal of £600.

It is believed that this could be linked to the recent Visa fraud scam, where an automated phone call, claiming to be from the Client’s bank or service provider, states that there has been a suspicious transaction from their account. Upon acting, the receiver is transferred to an “agent”, a fraudster, who tries to obtain personal data and account information. There are also reports of consumers being transferred to a premium phone line and being charged extremely high rates for the call.

Please be aware that Transact, or any other such service provider will not contact Clients through any automated phone call system. It is important if you receive unsolicited calls like this, or any other questionable calls, to always check with your bank or service provider first instead of following instructions.

Make sure you are ready to deal with scammers. The Financial Conduct Authority has pleanty of advice to help you stay safe.

Steve Blofield
Steven Blofield
Steven is the Director and Senior Estate Planner at Redwood Financial. He helps clients manage and grow their wealth and protect their estate. You can read more about Steve in his personal biography.
Redwood Financial is one of the south’s leading Investments, Pensions, Wills, Trusts & Estate Planning providers and we are dedicated to helping families to grow, protect and enjoy their wealth. With our unrivalled knowledge of Estate Planning, Lasting Powers of Attorney, Probate, Pensions, Savings & Investments, we can advise on any situation.
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