Ursula Sweis
Financial crime continues to evolve. While many people are familiar with scams such as phishing emails or cold calls, criminals are now using more advanced and convincing methods to exploit trust, technology and human behaviour.
At Fairstone, protecting our clients, their identities and their investments is a priority.
This article explains the most common types of financial scam affecting UK consumers today, how scam tactics are becoming more sophisticated, and what we do to help keep you safe.
We also outline what you should – and shouldn’t – expect from us when it comes to how we work with you.
Financial scams are no longer limited to obvious warning signs like poor spelling or generic messages. Criminals are increasingly combining social engineering with advanced technology to make scams more realistic and harder to detect.
One rapidly growing trend is the use of AI‑generated or “deepfake” voice messages, commonly sent via WhatsApp and other messaging platforms.
In these scams, criminals clone the voice of someone you trust, such as a family member, using short audio clips taken from social media videos, voicemail greetings or other publicly available recordings. These voice messages are then used to create highly believable emergency scenarios requiring urgent financial assistance.
Recent UK cases show families being targeted with WhatsApp messages that include convincing voice notes, often claiming a phone has been lost and money needs to be transferred urgently. These scams have resulted in significant losses and are becoming more common as the technology becomes cheaper and easier to access.
Deepfake audio is not limited to family impersonation. It has also been used to impersonate professionals, senior leaders and trusted contacts, which means relying on a familiar voice alone is no longer a reliable way to verify legitimacy.
As scam methods become more advanced, the importance of taking time, verifying requests independently and contacting a trusted adviser has never been greater.
Fairstone would never rely solely on a voice message, unexpected call or messaging app to request financial action.
We apply verification steps and use confirmed contact details before acting on sensitive instructions.
If you receive an unexpected message, voice note or call about financial issues that causes concern, please pause and contact your adviser straight away before taking any action.
Banking fraud often involves criminals posing as banks or financial institutions.
You may be contacted unexpectedly and told there is an issue with your account that requires urgent action, such as transferring funds or confirming details.
Typical warning signs include pressure to:
Fairstone would not pressure you to move money or act urgently following an unexpected banking‑related request.
Any genuine financial instruction would follow clear verification steps and allow time for consideration.
If in doubt, contact your adviser directly before taking any action.
Card fraud occurs when debit or credit card details are used without your permission.
This may happen following phishing emails, data breaches or insecure online transactions.
Unexpected payments or card declines should always be investigated promptly.
If card fraud may affect your broader financial position, your adviser will take time to understand the situation before any financial decisions are made.
If you are unsure how an incident affects your finances, contact your adviser.
Impersonation scams involve criminals pretending to be trusted organisations or individuals, including banks, advisers, government bodies or professionals. Increasingly, these scams may include:
Fairstone advisers will always clearly identify themselves and follow agreed security procedures. We will not rush you or ask you to bypass verification checks.
If someone claims to represent Fairstone and something does not feel right, pause and contact your adviser using known contact details.
Romance scams develop over time through dating apps or social media. Criminals build emotional trust before requesting money, financial help or investment support.
These scams are particularly effective because they rely on personal connection rather than technical fraud.
If a personal relationship starts to influence financial decisions, your adviser can help you pause and assess the situation objectively.
If in doubt, speak to your adviser before sending money or making commitments.
Online scams include phishing emails, fake websites and fraudulent messages designed to capture login details or personal information.
These messages often appear realistic and may include links or attachments.
Fairstone would never ask you to provide sensitive information or approve financial instructions via unexpected online messages. High‑risk requests are always subject to additional verification.
If you receive an online request that concerns you, contact your adviser before responding.
Investment scams typically promise high or guaranteed returns with little risk and may be presented as limited‑time opportunities.
Pressure and urgency are common tactics.
Fairstone advisers will never recommend investments without appropriate due diligence, suitability checks and time for consideration.
If approached about an investment outside your usual adviser relationship, contact your adviser before proceeding.
Identity theft occurs when personal information is used to open accounts or commit fraud in your name.
This often follows phishing scams or compromised email accounts.
Fairstone always carries out identity checks before acting on instructions. If you believe your identity may have been compromised, your adviser can support you in considering next steps.
If in doubt, contact your adviser promptly.
Protecting your personal and financial information is extremely important to us. We have clear steps in place to make sure we are always speaking to the right person and to reduce the risk of fraud or impersonation.
When we speak to you by phone about personal, financial or investment matters, we will ask you to confirm security information before continuing.
We treat emails requesting withdrawals, investment changes or bank detail updates as high risk.
We will only proceed once identity has been confirmed using verified contact details.
We may sometimes communicate via Microsoft Teams. Where there is any uncertainty about identity, we will pause and reconnect using trusted details.
If you receive a communication claiming to be from Fairstone and are unsure, always contact us directly using the details on our website or official documents.
Disclaimer: This article is for informational purposes only and does not constitute financial, tax, or legal advice. Tax treatment depends on individual circumstances and may change. The value of investments can go down as well as up and you may not get back the full amount you invested. Past performance is also not a reliable indicator of future performance. Always seek professional advice before making financial decisions.
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Common financial scams include banking fraud, impersonation scams, investment scams, online scams, identity theft and, increasingly, AI‑enabled scams such as deepfake voice messages.
Pause before responding, question unexpected requests, avoid acting under pressure and verify requests using trusted contact details. If in doubt, contact your adviser.
Do not act immediately. Verify the request independently using a known phone number and speak to your adviser before sending money. AI voice scams are becoming increasingly convincing.
No. Fairstone will not rush you or pressure you into moving money without proper checks and confirmation.
If you are ever unsure, your first step should be to contact your Fairstone adviser directly.
We pride ourselves on providing face‑to‑face advice, not call‑centre interactions. With over 50 locations across the UK and more than 400 advisers nationwide, a face‑to‑face meeting is always available should you want to discuss a request in person.
If something does not feel right, pause and speak to your adviser before taking any action.
For further information, please contact:
Ursula Sweis
For further information, please contact:
Ursula Sweis
