Beware the scammers

Scamming the taxman

The HMRC figures show an increase of fraudulent activity across all three communication types – emails, SMS and phone.

HMRC itself was the most targeted by phishing attacks among government departments. 

Always check

HMRC advises using the following checklist to decide if the contact you’ve received is a scam. Is the communication:

• unexpected?
• offering a refund, tax rebate or grant?
• asking for personal information, such as bank details?
• threatening?
• requesting you to transfer money?

Import/export red tape

According to the NCSC, attempts to clone part of the gov.uk website were identified in December 2020. In addition, the increase in red tape being experienced by importers and exporters this year is expected to create opportunities for scammers.

Devastating pension savers

Pension savers have long been a target of scammers and losses from pension fraud rose to £1.8 million in the first three months of this year, according to figures from Action Fraud.

Pension scams often include free pension reviews, ‘too good to be true’ investment opportunities and offers to help release money from your pension, even for under 55s, which is not permitted under the pension freedom rules.

Protection from pension scams

Action Fraud says you should reject unexpected pension opportunities, such as free pension reviews or investment opportunities involving your pension, whether made via email, social media, text or over the phone.

Research who you’re dealing with before changing your pension arrangements, and check with the Financial Conduct Authority (FCA) to see if the firm is authorised.

Don’t be rushed or pressured into making any decisions about your pension – consider seeking impartial information and advice.

Every taxpayer, saver and business is a potential target, so always check before you respond to messages, even if they appear to be genuine.