A growing area of financial crime is organised gangs attempting to hack email accounts. Once hacked, the criminals identify those financial services firms with whom the victim has a relationship with and then attempts to withdraw their investments.
Communication between the fraudster and the IFA is always through email and originates from the client’s genuine email account. Instructions to change bank account details are then submitted to the IFA, sometimes including a false copy of a bank statement.
We would like to reassure you that if we ever receive an email asking to change your account details, we will call you to ensure the legitimacy of the request, even if it appears to have come from the email address we have on record.