‘Screen sharing’ scams – beware

**/ ?>

Home > All > ‘Screen sharing’ scams – beware

The Financial Conduct Authority’s¹ (FCA’s) ScamSmart scheme has turned its attention to so-called ‘screen sharing’ scams, whereby fraudsters take over their victims’ computers using remote desktop software. Since July 2020, the FCA has seen well over 2,000 such cases, with victims losing a combined total of £25m between January 2021 and March 2022. One 59-year-old woman lost nearly £50,000 when a scammer posing as a financial adviser convinced her to download screen sharing software on the pretext of helping her complete a Bitcoin investment. Instead, they took advantage to access her banking details and other private information.

¹FCA, 2022

It is important to take professional advice before making any decision relating to your personal finances. Information within this document is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK. We cannot assume legal liability for any errors or omissions it might contain. Levels and bases of, and reliefs from, taxation are those currently applying or proposed and are subject to change; their value depends on the individual circumstances of the investor. No part of this document may be reproduced in any manner without prior permission.

The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated. If you withdraw from an investment in the early years, you may not get back the full amount you invested. Changes in the rates of exchange may have an adverse effect on the value or price of an investment in sterling terms if it is denominated in a foreign currency.

Information is based on our understanding of taxation legislation and regulations. Any levels and bases of, and reliefs from, taxation are subject to change.

Tax treatment is based on individual circumstances and may be subject to change in the future.

Other Insights of interest

23rd April, 2024

Residential Property Review of April 2024

Upcoming election has not discouraged potential movers A survey by Savills has found that the…

Read full insight

23rd April, 2024

Commercial Property Review of April 2024

Commercial property market update Latest research from Cluttons indicates that vacancy rates hit 4.1% at…

Read full insight

17th April, 2024

The surging cost of retirement

According to the Pensions and Lifetime Savings Association (PLSA)9, a ‘moderate’ standard of living includes…

Read full insight

17th April, 2024

Confidence returns

Increased investor confidence in equity funds over the last few months has been evidenced by…

Read full insight