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What fraudsters need
In order to misuse an identity, fraudsters need as much information as possible about their victims. The details and documents they need depend on how they plan to use the stolen identity, but even the most mundane of personal details can be helpful to a fraudster trying to pass as someone he or she isn't.
Fraudsters have many methods of getting hold of victims' details and documents - some are ingenious, others more obvious.
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Abuse of Trust
Based upon the experience of Police Fraud Squads, this information is intended as a guide to some of the points which you should consider before making any serious investment or purchasing decision - especially if you intend to become involved with an individual or organisation of whom you have little knowledge.
The points made here are not intended to be a comprehensive list. If in any doubt advice should always be sought from a specialist
Unusually high returns: Beware of "get rich quick schemes" which offer unusually high rates of profit when compared with, say, the returns available from Building Societies. Generous offers may be just a means of arousing your interest in a dubious scheme.
Cold Calling/Advance payment: Generally, cold-calling for investment business is prohibited by law, so be wary of apparently generous offers which arrive "out of the blue". Beware of paying fees for services before they are delivered.
Cash Transactions: Be wary of individuals who insist on dealing in cash. The use of cash is often an indication that proper accounting records are not being kept. Be particularly careful about paying cash in advance.
Spread the risk: Do not put all your eggs in one basket - for example, never commit all your life savings to a single investment scheme.
Take your time: Never make any major financial decision or sign ANYTHING on the spot. Always take your time to consider what you are doing. NEVER sign any form in blank, nor sign any form leaving any information to be completed by a third party such as a salesperson or representative.
Overseas Organisations: Be particularly cautious about investing in any organisation based abroad as, in the event of difficulty, it will probably be beyond the jurisdiction of the British Courts.
Get Independent Advice: Investment businesses are required to be authorised by the Financial Services Authority. Authorisation means that an organisation is "fit and proper" to carry out investment business. As a rule, do not get involved with an unregulated organisation.
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Remember
The main point to remember is that the greater the potential profit, the greater the risk and when promises of excessive profits cloud your judgement, you may very well end up losing much more than your shirt. In other words, if an investment or any other opportunity seems too good to be true - it probably is.
If you believe that you have been the victim of fraud or any other crime, don't panic but do contact your local Police Station immediately - look in the telephone directory under POLICE.
A set of other useful links can be found here.
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