Scamming including online cloning, whereby criminals pretending to be a legitimate company, is on the rise.
Scams can be sophisticated. If you fear you've fallen victim to fraud, call us immediately on 0800 779 7706 or email firstname.lastname@example.org.
Likewise, contact us as soon as possible if you've noticed some suspicious activity on your account or think someone has acquired your account details.
If you've lost money in a scam for products the FCA don’t regulate, please contact Action Fraud on 0300 123 2040 or www.actionfraud.police.uk (link is external).
Lendy takes the issue very seriously and would never contact a customer and request personal information like bank account details.
To protect yourself, we recommend you take the following measures:
- Don’t give out your personal information to strangers online, over the phone, by text, or any other method.
- Make sure you destroy your paper statements and bank letters using a shredder.
- Don’t share unnecessary personal information online and on social media platforms (e.g. your birthday, home address).
- Check your bank account regularly for any irregularities.
Fraudsters will sometimes send fake emails claiming to be from trusted organisations like Lendy. If you suspect a Lendy email of being a scam, please let us know by forwarding it to email@example.com.
There are some general things we should all do to avoid scams:
- Treat all unexpected calls, emails and text messages with caution. Don’t assume they’re genuine, even if the person seems to know some basic information about you.
- Don’t be pressured into acting quickly. A genuine bank or financial services firm won’t mind waiting if you want time to think.
- If you’re buying a financial product such as a loan, investment, only deal with a FCA-authorised firm such as Lendy – check the FCA Register to see if the firm is registered. Always access the Register from the FCA website, rather than through links in emails or on a firm’s website (it might be part of the scam).
- Always double check the URL and contact details of Lendy in case it’s a ‘clone firm’ pretending to be us (e.g. your bank or a genuine investment firm).
- Check the FCA list of unauthorised firms and individuals they have received complaints about. If the firm isn’t on their list, don’t assume it’s legitimate – it may not have been reported to them yet.
Common financial scams
Scams are increasingly sophisticated – but if it sounds too good to be true, it probably is.
Scammers will usually call you out of the blue, but contact can also come by email, post, word of mouth or at a seminar or exhibition.
Always be wary if you’re contacted out of the blue, or pressured to invest quickly or to provide bank account details
If you’re considering an investment, check the FCA Warning List of firms to avoid first.
We strongly advise you to get independent professional advice before making any investment.
Common financial scams include:
- binary options
- carbon credit trading
- early pension release (before you’re 55)
- get-rich-quick, Ponzi and pyramid schemes
- land banking
- overseas property and crop schemes
- pension reviews
- rare earth metals
- restricted US shares
- share, bond and boiler room scams
- unauthorised forex (FX) trading and brokerage firms
- unregulated investment products
Read more about how to protect yourself from investment and pension scams.
Other common financial scams
The most-common financial scams targeting the general public include:
- banking and online account scams
- fake FCA emails, letters and phone calls (phishing)
- foreign money transfer scams
- insurance and warranty schemes
- loan fee fraud
- money transfer scams
Be wary of future scams
If you have already invested in a scam it doesn't mean you won't be a victim of future scams, fraudsters may target you again or sell your details to other criminals.
The follow-up scam may be completely separate or related to the previous fraud, such as an offer to get your money back or to buy back the investment after you pay a fee.