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Top tips for staying vigilant to online scams

iStock / Getty Images Plus / monkeybusinessimages

Sarah Sinden

Manager, Economic Crime, Customer Education Strategy, UK Finance

Criminals are experts at impersonating people, organisations and the police. They spend hours researching you for their scams. Therefore, everyone needs to be on the lookout.


Throughout 2020 we’ve seen a significant rise in investment scams as fraudsters have preyed on people’s financial insecurities.

Often promoted on search engines and social media, criminals use online adverts to trick people into parting with their money. These offer investment opportunities that claim to guarantee stronger rates of return and minimal risk.

Anyone who clicks through will be asked to fill in an online form to register their interest, before receiving a call from someone impersonating a genuine firm or broker. Criminals will also sometimes send out professional-looking documentation to make the scam appear more convincing.

How to spot an investment scam

It’s understandable how these schemes can reel people in, but it’s important to remember that if it sounds too good to be true, it usually is.

The Take Five to Stop Fraud campaign has some simple advice to stay safe:

What to look out for:

  • Ads on your social media feeds, sometimes with a ‘celebrity endorsement’, sometimes offering higher than average returns on investments with apparently little or no risk.
  • Out of the blue phone calls and emails about an investment opportunity.
  • Investment opportunities that are apparently exclusive to you and only you.
  • Being pressurised into making a decision with no time to think.

Helpful advice:

  • You can check if an investment or pension opportunity you’ve been offered could potentially be a scam by taking the FCA’s ScamSmart test.
  • Most cryptocurrencies aren’t regulated by the FCA which means they’re not protected by the UK’s Financial Services Compensation Scheme. It’s important that you do your research and proceed with extreme caution before making any investments.

Report scam ads appearing in paid-for space online by visiting the Advertising Standard Authority’s website where you can complete their quick reporting form.

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Home » Pensions and Finance » Top tips for staying vigilant to online scams
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Partnering to help make businesses dementia friendly

Charlotte Matier

Director of Development, Alzheimer’s Society

Fermín Martínez
de Hurtado Yela

Sustainability Strategy Manager, Santander UK

People living with dementia worry about their financial independence. That’s why a high street bank has partnered with Alzheimer’s Society to make its services as dementia friendly as possible.


By 2025, it’s estimated that one million people will be living with dementia in the UK. It’s not just an issue for those living with the condition either, because it impacts carers and family members too.

That’s why organisations have to do more to make their services and products as dementia friendly as possible, stresses Charlotte Matier, Director of Development, Alzheimer’s Society.

Take banking, for example. “This is one of the biggest challenges facing people affected by dementia, because they are concerned about losing their financial independence,” says Matier. “They worry about using cash machines and having to deal with different automated tasks or remembering their PIN and security questions. Plus, they are more vulnerable to fraud because they may be less able to judge if a message they receive is a scam.”

So, in 2019, in an effort to become more dementia friendly, Santander formed a partnership with Alzheimer’s Society. This has spawned various initiatives, including the Santander Dementia Steering Group — made up of people affected by dementia — who review Santander’s processes and products; a roster of Santander colleagues who volunteer their time to make Companion Calls to to people affected by dementia for a chat and to check on their wellbeing; and a fundraising drive which has raised over £1.5 million.

Being part of the Santander Dementia Steering Group is empowering for those of us who have dementia. We can have a voice and make changes for the better. Hopefully what we are achieving alongside Santander will in turn help lots of others.’

Tracey, a member of the steering group who is living with dementia

Embedding dementia awareness into a business 

When embarking on a strategic partnership such as this, it’s vital to involve all members of an organisation — from junior team members to senior leadership — from the very start of the process. “Colleagues across the bank had the opportunity to vote on who our charity partner should be,” explains Fermín Martínez de Hurtado Yela, Sustainability Strategy Manager, Santander UK. “It was a good way to get everyone’s engagement from the beginning.”

Once the partnership was formalised, it aimed to deliver mutual benefits for both organisations. “That’s why two colleagues from Alzheimer’s Society have been seconded to our organisation,” explains Martínez de Hurtado Yela. “They are able to leverage our knowledge — and we are able to leverage theirs, ensuring strategic alignment to deliver on a common ambition.”

Dementia awareness to empower colleagues 

The bank has also invited colleagues to join Alzheimer’s Society’s Dementia Friends programme, an initiative to change people’s perceptions of dementia aiming to transform the way the nation thinks, acts and talks about the condition. This has been taken up by 54% of colleagues. “There is still stigma surrounding dementia,” says Matier. “Awareness helps employees understand more about the condition – what it is and what it is not – meaning they are much better placed to support customers affected by it.”

The Santander Dementia Steering Group uses their lived experience to review the bank’s products and services to make sure they are dementia friendly. An example of this is making the cash machines experience more dementia friendly through use of accessible colours, language and sequencing as well as launching a Carers Card Account, so a carer can have their own card and PIN to help with shopping, getting cash and paying bills.
 

During Dementia Action Week in May, the bank also launched an external campaign encouraging customers to inform the bank of their dementia diagnosis, to ensure they are accessing support and suitable products, and supported Alzheimer’s Society’s petition to urge the Government to reform social care, and supported Alzheimer’s Society’s petition to urge the Government to reform social care, and supported Alzheimer’s Society’s petition to urge the Government to reform social care [repeated sentence, delete]. 


Dementia awareness and support is now part of the bank’s culture. “One of the strengths of our partnership is that it has delivered holistic outcomes, not simply single solutions to individual challenges,” says Martínez de Hurtado Yela. “The feedback we’ve had from colleagues is that customers and colleagues affected by dementia have responded very positively to it.” 

For information about the dementia-friendly banking initiatives access santander.co.uk/personal/support/supported-banking/dementia

To get support and advice about dementia please contact Alzheimer’s Society’s Dementia Connect support line (0333 150 3456) or visit alzheimers.org.uk. More information about how to take part in our fundraising activities like Memory Walk is also available on our website.

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