empowering individuals to stay scam aware.

29th October 2025

This year’s Scam Awareness campaign by Citizens Advice focuses on educating people about current scams and providing practical guidance on how to stay Scam Aware. According to UK Finance annual fraud report there were 3.13 million confirmed cases of unauthorised fraud reported in 2024 (up 14% compared to 2023) and losses totalled £722 million in 2024 (up 2%).

WEALTH at work’s research in 2024 uncovered some of the most common scams that people lost money to. This includes purchase scams (27%), investment scams (19%), friends or family scam i.e. someone claiming to be someone they knew (18%), bank account scam i.e. claims bank account has been compromised (18%), fake tech support (15%), befriending/romance scam (14%), and pensions scams (13%).

To help individuals recognise and avoid scams, WEALTH at work has compiled key phrases often heard from scam victims:

1. “They looked so professional” – Scams look and sound legitimate, which is why people are hoodwinked. They often have very professional looking websites and literature. Whatever people are planning to do with their money, they should firstly check that the company is registered with the Financial Conduct Authority (FCA) https://register.fca.org.uk/
2. “It was a once in a lifetime opportunity” – If an investment offers the opportunity of a lifetime, people should be very suspicious. If it seems too good to be true, it probably is.
3. “They seemed so friendly and knew so much about me” – The people that run scams are clever and may have been able to get hold of an individual’s personal details. People should be aware to not let their knowledge and friendliness catch them off guard.
4. “If I didn’t decide quickly the opportunity would be lost” – Genuine advisers will never rush individuals to make a decision. Anything that talks about limited time offers is likely to be a scam.
5. “They said they could help me to access my pension early” – Pensions can normally only be accessed after the age of 55, unless in cases of seriously ill health. In normal circumstances, if someone promises to release a pension early they are lying and it is a scam.

“I didn’t know how to check them out” – People should approach any investing offer with caution and always check that the company is registered with the FCA before committing to anything https://register.fca.org.uk/. The FCA’s ScamSmart website also includes a warning list of companies for individuals to be aware of www.scamsmart.fca.org.uk. It may also be a good idea for people to seek investment advice if they’re unsure.

1. “They kept contacting me and eventually I just gave in” – Scammers will use technology and try to contact individuals through various means such as social media, texts, telephone calls and emails. If someone is in doubt, they should ignore it and hang up the phone or delete the message. Phone companies should be able to help by blocking any offending numbers and email providers can help to block emails from specific senders. Individuals should be aware of what they share through social media and check that their privacy settings are as secure as possible.
2. “I didn’t report the scam straight away” – In England, Northern Ireland and Wales concerns about a potential scam should be reported to Action Fraud. For those that live in Scotland, they should call Police Scotland or Advice Direct Scotland.

Jonathan Watts-Lay, Director, WEALTH at work, comments; “Unfortunately, the strain on household finances caused by rising costs means that some people are more vulnerable than ever, and fraudsters take advantage of this. Those approaching retirement are also key targets as they may have access to relatively large sums of money. People need to be on their guard as fraudsters use many convincing techniques to persuade their victims that they are genuine.”

He explains; “If someone is planning to transfer any money or make a payment and are not 100% sure, they should stop and think to give themselves time to check it out. We encourage people to follow the 3-step approach of the national ‘Take Five’ campaign by UK Finance, a leading industry body for financial services in the UK.It urges individuals to stop and think before parting with money, challenge if something is fake, and protect their money by contacting their bank if they think they’ve fallen for a scam.”

Watts-Lay adds; “Also, before committing to anything people should check that the company is registered with the Financial Conduct Authority (FCA) first, as if they’re not, it’s probably a scam. The FCA’s financial register can be found here https://register.fca.org.uk/s/. The FCA’s ScamSmart website also includes a warning list of companies to be aware of www.scamsmart.fca.org.uk. If anyone thinks that they are being scammed, they must report it on the FCAs Scam Smart website. Not only may they be able to help them, but they will be able to help others from falling for the same scam.”

He adds; “Many leading employers offer employees financial education, guidance and access to investment financial advice to help them understand the warning signs when it comes to a scam so that it can be avoided. It’s always worth speaking to your employer to see what support they provide.”