Investment and pension scams are often sophisticated and difficult to spot. According to the FCA, thousands of people fall victim to investment fraud each year. In 2022, £114.1 million was lost to investment fraud*.

*UK Finance

Raymond James is supporting the ScamSmart campaign from the Financial Conduct Authority (FCA), which aims to help investors stay safe online and avoid becoming the victims of scams.

Warning Signs

Though the contact methods used by fraudsters may vary, their tactics remain the same. Be vigilant when making investment decisions and look out for these six warning signs. Watch the video below to find out more.

Unexpected contact

  • By cold calling
  • Online, via email or social media
  • By post
  • In person at a seminar
  • Through word of mouth

Time pressure

They might offer you a bonus or discount if you invest before a set date or say the opportunity is only available for a short period.

Social pressure

They might tell you other people are interested or have already invested. They may also share fake reviews.

Unrealistic returns

They might promise tempting returns that sound too good to be true.

Convincing Information

Sometimes fraudsters have convincing websites and literature. They might speak with authority on investment products or claim to be regulated.


Building a friendship with you to lull you into a false sense of security.

Be extra careful during peak investment season

During the heightened investment activity period from January to March, individuals should exercise extra caution as scammers exploit the increased interest by launching fake promotions, impersonating legitimate entities, and employing high-pressure tactics.

Be a ScamSmart Investor

Reject unexpected offers

Scammers usually cold call, but contact can also come by email, post, word of mouth or at a seminar. If you’ve been offered an investment out of the blue, chances are it’s a high-risk investment or a scam.

Check the FCA Warning List

Use the FCA Warning List to check the risks of a potential investment – you can also search to see if the firm is known to be operating without our authorisation. To check visit

Get impartial advice

Get impartial advice before investing. Don’t use an adviser from the firm that contacted you.

Click here to visit the FCA website for more information about this campaign, and to access the wealth of resources and information on how to spot and report a scam.

Download the ScamSmart factsheet