Warning on 'call-back' phone scam targeting advisers

clock

LifeQuote is warning any adviser that offers a call back service to beware of an increase in 070 phone scams.

The protection insurance service is warning advisers and their staff to be vigilant to avoid being stung by fraudulent premium rate call backs for quotes or product information.

Fraudsters are targeting financial services industry firms using 070 numbers as many companies offer telephone call back.

Scammers can pocket around £1 per minute for calls back to their number and the scammers are sophisticated and will often target complex products so that they can extend the length of a call, the firm warned. 

Neil McCarthy, sales & marketing director of LifeQuote, said: "As a large protection provider, we offer both advisers and their clients a call back service and have seen an increase in fraudulent requests.

"We have systems in place to highlight these numbers, but it is reasonable to assume that many insurance brokers, mortgage advisers, protection specialists and anyone else that offers a similar service will also be targeted, hence our warning to put similar procedures in place."

More on Income Protection

Shepherds Friendly unveils simplified IP application process

Shepherds Friendly unveils simplified IP application process

Simplified version is part of a wider strategy

Hemma Visavadia
clock 18 May 2022 • 2 min read
National Friendly joins the IPTF

National Friendly joins the IPTF

Latest member joins

Hemma Visavadia
clock 03 May 2022 • 1 min read
National Insurance increases could provide further impetus to income protection sales

National Insurance increases could provide further impetus to income protection sales

"The increases in NI make the potential savings greater"

Tony Müdd
clock 22 April 2022 • 4 min read

Highlights

First episode of The COVER Review goes live!

First episode of The COVER Review goes live!

New monthly programme

John Brazier
clock 21 April 2022 • 1 min read
The Rising Stars of Protection: Adrian Benjamin

The Rising Stars of Protection: Adrian Benjamin

"Getting into the insurance industry is very difficult, I had to fight my way to get in"

Hemma Visavadia
clock 20 April 2022 • 6 min read
Where protection meets sustainability

Where protection meets sustainability

"Being a sustainable business means more than just meeting climate targets"

Hannah Godfrey
clock 19 April 2022 • 7 min read