Share fraud warning

Share dealing can be open to fraud, and we want to remind you to be aware of this and help you spot the signs. While fraudsters may use different methods to try to con you, there are some common things to watch out for:

  • Unsolicited calls offering you the chance to buy or sell shares or investments overseas with the promise of huge returns
  • High pressure sales tactics, like emphasising the urgency, telling you you'll miss out if you don't invest right now, and just how much you'll lose if you don't
  • Incentives such as free reports, gifts or discounts
  • Asking you to transfer money abroad, for example to Spain, Dubai or the US
  • And being given a UK number to call back on is no guarantee of a legitimate broker - tricks include using call forwarding to overseas numbers, or not hanging up so that you remain connected to them and the UK number "dialled" does not actually go through a network

 

Do not disclose your personal information

As a registered shareholder in TSB Banking Group plc, your name, address and number of shares held is a matter of public record by law. If your shares are held in a nominee account on your behalf this information is not publicly available.

 

You should never:

  • Give personal details to any caller, especially when you do not already have an existing relationship
  • Genuine callers won't mind you taking their details and calling back - but when you do, remember the issue of fake numbers, and always wait for a dialing tone before dialing
  • Check out their company name and details on the internet before calling

 

TSB Banking Group plc will not:

  • Sell your private information to any third party, for example for marketing purposes. (We may engage third parties to assist us with activity relating to your shares, for example, asset reunification.)
  • Contact you by telephone to buy or sell shares
  • Ask you for credit card or bank account details in relation to any services or offers that you have not requested  

 

More help and advice

The Financial Conduct Authority (FCA) offers helpful information and advice on share fraud on their website www.fca.org.uk.

If you receive a suspicious call, contact the FCA:
Consumer Helpline - 0800 111 6768 (outside UK: +44 20 7066 1000)

Email: consumer.queries@fca.org.uk
Or use their share fraud reporting form at www.fca.org.uk/consumers/scams/investment-scams/share-fraud-and-boiler-room-scams/reporting-form

If you believe you are already the victim of share sale fraud and have paid money over, you should contact Action Fraud on 0300 123 2040 or report this online at
www.actionfraud.police.uk/report_fraud