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Investment scams on the rise

Investment scams aren’t new, but people are being caught out by them more than ever before. Here at PDL, we’ve noticed an increase in clients looking for help from our fraud investigation services, either because they fear they may have fallen victim to a scam or because they suspect an investment they’re being encouraged to make may not be entirely what it seems.

This rise in demand for the services our team of expert financial fraud investigators provide is not entirely unexpected – given the turbulent economic environment of recent years, as well as the ongoing effects of the pandemic. The clients we see have all been keen to maximise their earnings and, in some cases, have already invested (or lent,) significant sums of money before carrying out any checks on the individuals or company involved.

What is an investment scam?

Financial fraud comes in all shapes and sizes, with phishing and tech support scams at one end of the scale and investment scams, for example pyramid schemes or so-called boiler room scams at the other.

Although the details may vary, most scams of this kind involve the scammer convincing would-be investors to part with cash for products or schemes that either don’t exist or are essentially worthless.

The criminals carrying out these frauds will usually maintain a sustained campaign of contact with their victims, nurturing the relationship and building trust, before abruptly breaking all contact once a financial transaction has been made.

All of these scams exploit the vulnerabilities that make us human – whether that’s a desire to provide for our families, or simply wanting to ensure a comfortable retirement.

Official statistics show that in 2021 more than £1.3bn was stolen by fraudsters*. This is a tremendous amount of money, and evidence from financial investigation services points to investment scams as the second most common type of scam, second only to impersonation scams.

Our financial fraud investigation services

Like other types of criminal behaviour, anyone can find themselves targeted by financial scammers – not just those who might be considered vulnerable or lacking in street smarts. In fact, as these criminals grow in both confidence and sophistication, even people who are experienced investors and aware of the risks are finding themselves getting caught out.

The majority of our clients come to us because they have a sense that something isn’t quite right: “It seems great, but something feels a little ‘off’” is something we hear often.

Our clients don’t want to risk missing out on a potentially profitable opportunity, but they also want to be 100% certain of its legitimacy before making a commitment. We look into the matter for them, identifying any issues or concerns.

If you have any doubts, taking the time to carry out some due diligence before moving forward with a new financial venture is always the best way to avoid falling victim to criminal activity.

If you’re worried you’ve already been the victim of a bogus scheme, a private detective agency such as PDL can look into the details for you. But a preventative approach – carrying out appropriate due diligence checks before making new investment decisions is always more effective.

So, the question is, how can you avoid investment fraud?

How to spot investment fraud

Question unexpected contact. Financial fraud investigators usually notice a familiar pattern: scammers get in touch with their victims out of the blue, usually with an opportunity they claim to be sharing because “it’s just too good to miss out on”. If you’ve been cold-called or received an unexpected email outlining a fantastic opportunity, always check whether it’s legitimate before handing over any money.

Say no to pressure. Another common tactic scammers use is to pile on the pressure. You may be told what they’re offering is time limited or even “one time only”. There may be a very short deadline, or sometimes bonus or discount incentives are offered for getting involved quickly. A legitimate investment opportunity will never be marketed in this way. You should always question any so-called opportunity that makes you feel pressured or uncomfortable.
A new best friend. A frequent finding in financial fraud investigations is the lengths criminals will go to to get their victims to commit. Common tactics include prolonged and frequent contact, bombarding the intended ‘investor’ with unsolicited phone calls, email and text follow-ups. In some instances, the relationship may seem more like that of a friend rather than someone trying to make a business deal. This should always be considered a red flag.
Confusing terms, jargon, and returns that are too good to be true. All these things should be concerning if you want to invest your money. You should always understand exactly what you’re investing in and using regulated firms or individuals is advisable.

Get in touch if you’re concerned about anything we’ve covered in this article. We’ll provide free, honest, ethical, legally–sound advice with no obligation.

+44(0)2037471865

contact@privatedetective.london

*as reported in the Guardian, 29 June 2022

At PDL, potential clients ask us very frequently – probably around twice per day – if we
will ‘hack’ a phone, meaning to illicitly and remotely gain access to a device and its data.
With phone hacking scandals in journalism and government in relatively recent memory,
the concept is certainly within the zeitgeist and public consciousness.
However, many people have questions around the legality of phone hacking: Is it legal?
Is it only illegal under certain circumstances? Are there alternatives?
As such, we wanted to address these questions and more in a clear and simple manner,
via this blog. Please read the below – we hope it’s helpful.
If you have any questions about anything within this article, or relating to our services or
company as a whole, please don’t hesitate to contact us.

Why Do People Request Phone Hacking?

Ultimately, when an individual or organisation approaches us looking to instruct a private detective, they do do so because they want answers.

With phone hacking requests, corporations do occasionally enquire, but the vast majority of the time it’s an individual wishing to conduct a matrimonial investigation – and feeling the answers they want lie on a phone.

Is Phone Hacking Legal?

No, phone hacking is not legal. It is illegal. A phone is essentially an asset that a person or company has acquired ownership of. If you don’t have access to it, then there lies the simple answer.

The government can’t access your phone, and nor can the police – without sufficient reason and thus the granting of the right to do so.

The phone’s owner has the right to the ownership and privacy of their own device and data. Of course, there’s a big conversation currently going on about the sharing and purchasing of data, and the various tactics companies employ to seek individuals’ agreement to share their data.

However this is a separate issue that doesn’t change the simple fact that phone hacking is illegal. Even the word ‘hack’ points towards underhand or illicit intentions.

Completing phone forensics of a phone that our client should and does have access to is another matter. However the questions are always: Do you – and should you – have access?

The Ethics of Phone Hacking

At PDL, an exemplary ethical code has always been at the core of our ethos. We’re proud of our high standards and uncompromisingly ethical approach to leading the way in the UK. We often say of phone hacking: Even if we could do it, we wouldn’t.

Phone Hacking Alternatives

Just because phone hacking is not a route we can or will take, it doesn’t mean that there aren’t available ways to get results.

We can almost always achieve the answers our clients seek – and via legal, ethically-sound methods, without exception.

We are very happy to discuss alternative approaches with any potential client, any time.

Our Advice

To reiterate, we – just one company – receive in the region of 800 phone hacking requests per year, every year. So please don’t be embarrassed about having tried to seek a phone hacking service before knowing it was illegal.

The need for answers can feel overwhelming, and it can be difficult to find clear advice on phone hacking’s legality – one of the reasons for this article.

If you don’t choose to explore alternative methods with us, or another reputable company, then our primary advice is to be careful.

There are companies purporting to offer phone hacking services. They may be being dishonest about their methods, i.e. Taking payment for one service then doing another.

Alternatively they may take an initial fee to secure your instruction, not actually complete any investigation, then return to you to state the operation was simply unsuccessful – but the payment is still required for their time.

Or they may be actually undertaking illegal hacking practices, which is of course absolutely not something to be involved with.

Steer clear of any detective or company who states that they can and will hack a phone, and allow a trusted, expert detective to advise on methods.

Feel free to contact us via the details below for free, honest, legally-sound, ethical advice – at no obligation.