Forces Pension Society

Fighting for the forces and their families

Scammers & Fraudsters

Jo Fitton-Bates
By Jo Fitton-Bates
September 3, 2019
Forces Money Plan

Forces MoneyPlan (Personal Finance Society) have brought to our attention that in recent months there has been an increasing number of financial scams specifically targeting forces personnel and veterans.

There’s a well-used phrase that we’re all familiar with – ‘if it’s too good to be true, it probably is’. Unfortunately, when it comes to the complex world of financial services, its often difficult for the layman to know.

A few months ago, the press highlighted the case of Tom Johnston, 61, who after a 25-year career in the military specialising in communications with the Royal Signals and Special Forces, lost £150,000 savings to scammers after he was emailed by fraudsters who posed as investment brokers.

https://www.thesun.co.uk/money/8549436/army-veteran-savings-investment-scam-tips-fraud/

More recently (August 2019), the Ministry of Defence highlighted a potential phishing scam* impersonating Ministry of Defence Officials. Targets of the fraud have received emails purporting to originate within the MOD attempting to make contact or seeking money.

https://www.gov.uk/government/news/potential-phishing-scam-impersonating-ministry-of-defence

Given the increasing prevalence of financial scams, we want to bring to your attention once more the service called Forces MoneyPlan that provides a free and totally confidential meeting with a fully qualified financial adviser who is a verified member of their professional body, the Personal Finance Society.

These pro bono meetings can be held face to face or by telephone/Skype at a convenient day and time and are designed to help recipients identify and better understand their financial needs, priorities and options, as well as help recognise and avoid a growing number of increasingly sophisticated financial scams.

Called ‘generic financial guidance’, it seeks to deliver free guidance in respect of either a specific financial issue or overall financial wellbeing, helping the recipient tackle an issue or better understand, cope with and plan their finances without involving at any time the promotion or sale of any financial product or service.

If you would like to find out more, please take a look at the website – https://www.thepfs.org/about-us/initiatives/forces-moneyplan/

 

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