Bank of London and The Middle East (BLME) has warned consumers to be on alert for a scam attempt using a variation of the BLME logo and typeset, along with other company details, to sell fraudulent investments into various bonds offering rates out of line with current market rates.
The bank has taken steps to warn consumers, including updating information on its website with warnings about the scam and how consumers can protect themselves.
BLME has stated some of the ways consumers can help protect themselves from scams, including:
Protect personal information - Never give out your full online banking PIN, passcode or password. No bank would never ask you for this information.
Resist the click - Never click on links or open attachments in emails you don’t recognise or appear to have arrived totally out of the blue.
Personal device security - Make sure your antivirus software is up to date to give you more protection.
Check the email address - If you receive an email, expand the pane at the top of the message and see exactly who it has come from. If it is not from Savings@BLME.com then it is not from the BLME Savings team. If it is a scam, the email address may be compiled of random numbers or misspelt. If you don’t trust it, don’t open it.
Avoid being rushed or pressured into making a decision - If you are pushed into making a decision on the spot, be suspicious! Scammers don't want to give you time to think about it.
If it sounds too good to be true, it usually is - This is common with pension or investment scams, where the fraudster guarantees huge returns but promises low risk.
Check who you are dealing with - Avoid business opportunities from companies that you have not heard of before. If in doubt, please use the Financial Conduct Authority (FCA) Register and Warning List to check who you are dealing with.
BLME has stated it would not:
- Send unsolicited emails requesting money or personal information.
- Request advance funds from you to participate in a business venture.
- Run any Lottery or Prize Draw events.
- Request funds from you to invest without first having received an investment application form from you.