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Market updates, Covid-19 response and Scam awareness

We understand that you’re facing many challenges right now, including how best to support your clients, keeping them vigilant and aware of the latest scams, and also changes to the way you work. Below you’ll find guidance and information to help you navigate the uncertainties.

Scammers are taking advantage of the Covid-19 situation

We’re sure you’re already making your clients aware to be on the lookout for the classic signs but we’ve recently seen an increase in the number of financial scams - including those involving phishing emails, cold calls and fake product documentation.

We know that some individuals have been targeted by an investment scam which references the M&G and Prudential  brands. The scam offers attractive fixed returns, above market realities, on money invested in fixed rate or fixed return products, specifically Fixed Rate Savers and Fixed Rate Deposit Bond, but please be aware there may be others in use.

Please remind your clients to remain vigilant now more than ever, and remind them of the signs to look out for:

  • Calls, texts, or emails from businesses and individuals offering great deals - such as free pension review, investment opportunities with ‘guaranteed returns’
  • High pressure sales tactics from businesses or individual pushing a deal or to sign anything
  • 'Good cause’ scams where scammers want people to invest in items such as face masks and hand sanitiser and promise lucrative returns
  • Any requests for upfront fees.

Scammers are very sophisticated - even the most well-informed people are at risk. So, you might find the FCA ScamSmart website helpful. It offers lots of useful information and support to your clients, on how to avoid investment and pension scams.

Visit ScamSmart now

And we’ve put together this Covid-19 Scam Alert email template to help you reach out to clients about this. There's also more information for your clients, on how to protect themselves from investment scams, on pru.co.uk.

A message from M&G plc Chief Executive John Foley

‘In these very difficult times, our priority is to ensure the safety and well-being of colleagues and to continue to serve you and your clients to the best of our abilities.’

Read more

"Prudential" is a trading name of Prudential Distribution Limited. Prudential Distribution Limited is registered in Scotland. Registered Office at Craigforth, Stirling FK9 4UE. Registered number SC212640. Authorised and regulated by the Financial Conduct Authority. Prudential Distribution Limited is part of the same corporate group as the Prudential Assurance Company. The Prudential Assurance Company and Prudential Distribution Limited are direct/indirect subsidiaries of M&G plc, a company incorporated in the United Kingdom. These companies are not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in the United Kingdom.