It could be easy to let your guard down while enjoying the seasonal festivities, but remember scammers will take every opportunity to defraud you, and the festive period is no exception.
Below are five scams to look out for:
Fraudsters pretend to be delivery companies (such as Royal Mail, UPS etc), contacting you via text message or email, stating that they have missed a delivery and to ‘click on the link provided to re-schedule’. The aim of this scam is to gather as much of your personal information as possible, and in some instances, request funds. For example, they may request payment for a ‘change of delivery fee’. When in doubt, always contact the delivery company from the details listed on their official website.
Fraudsters ask you to make a payment for something that does not actually exist. This may include making a payment via card or electronic transfer, often for goods or services advertised on social media sites or other websites. These scams are often only recognised much later, once their victim attempts to contact the seller for an update or a change (this includes fake online gift stores). The fraudsters open bank accounts, often under a false name or using the name of a legitimate company. They then withdraw the funds once received and cut off contact with you. Always ask yourself – could it be fake?
This is when fraudsters pretend to be a friend or family member, saying they have lost their phone or wallet or are stranded someplace in urgent need of help. This is often done by sending a text message from another number to ask for assistance and request money. This is a fear-based tactic to prompt an immediate response, so always remember to pause and contact that friend or family member using your regular means of communication.
This scam takes advantage of the ‘cost-of-living crisis’ by imitating an energy provider promising a refund. Similar to the purchase scam, this attempts to gain as much information from you as possible. The emails received may also contain a type of malware that could infect a computer or other device. Never use links included in such emails, and always go to the official websites for the organisation they are claiming to be.
These scams use the name of a legitimate charity to request donations. They may also request your assistance for someone in need or for a smaller organisation. Similar to purchase scams, fraudsters will attempt to con people into making payments into the ‘charity account’. Always check with the official charity website or page before responding to any such emails.
For more information, visit our protect yourself from fraud page. For other useful tips, see our webinar on fraud and cybercrime.
Stay safe and have a happy festive season.
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Any examples of investments and structures used are for illustrative purposes only. The inclusion does not constitute an invitation or inducement to buy any financial investment or service. None of the content constitutes advice or a personal recommendation. Nedbank Private Wealth does not provide individual tax advice, and instead works with clients’ existing advisers or can provide an introduction if needed. Individuals should seek professional advice, based on their jurisdiction and personal circumstances, before making any financial decision.
6 Dec
| 5 mins
Many see Christmas as a time for festivities, others as the time to file tax returns ahead of the 31 January deadline. But while you and Santa are making your lists, and checking them twice, Anna Slater highlights some pointers to help you with UK self-assessment submissions.
4 Mar
| 9 mins
It’s just a month to go until the UK tax year ends on 5 April. Ahead of that date, we would encourage you to review your finances, even if it’s just to double check. We detail some of the considerations we believe should be front of mind as we count down to the UK tax year end.
31 Jan
| 3½ mins
Most calendars start on 1 January and end on 31 December, but not the UK personal tax year. We explain the history behind the date as the government considers the pros and cons put forward by the Office for Tax Simplification with regard to changing the tax year end date.
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