By PAUL O’DONOGHUE, Senior Correspondent
THE UK’s FCA (Financial Conduct Authority) has launched ‘Firm Checker’, a tool to help consumers combat scam attempts.
The service checks if a company is authorised by the FCA to operate in the UK. It also shows which services a business is licensed to provide.
‘Firm Checker’ is available [HERE].
The FCA said that by using the tool, “people can significantly reduce their chances of falling victim to fraud”.
“Scammers can make it difficult for consumers to know if they are dealing with the real firm,” the FCA said.
“In addition to checking if a financial services firm is authorised by the FCA for the services being offered, people should also confirm that the contact details match those listed on the FCA Firm Checker.”
Sheree Howard, executive director of authorisations at the FCA, said: “Ruthless fraudsters are constantly evolving their tactics so they can steal money from innocent victims.
Whether you’re considering an investment, pension opportunity, loan or other financial service, use Firm Checker to confirm the firm is authorised and help fight financial crime.”
A recent study from the FCA consumers are already taking some precautions to protect against fraud but there is room for improvement. Some 72% of adults said they ‘always or usually’ reject or ignore unsolicited calls. This also included emails or text messages about investment or pension opportunities.
However, it also found that just 60% consumers ‘always or usually’ verify the authenticity of emails, messages or calls before providing personal or financial information.
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