Quilter takes action as impersonation scams continue to rise

Calls on Government to establish legal framework

Quilter has called on the Government to create a legal framework for tackling the extreme rise in impersonation scams, which cost retail investors an estimated £10m in 2020, with the firm launching its own tool for reporting fraud of this kind.

The online tool will allow investors who believe they have been exposed to, or have fallen victim to, an impersonation scam that features a clone of Quilter's branding to report suspected impersonation scams directly to Quilter's financial crime team.  Quilter will assess the legitimacy of the investment proposition in each individual case and provide a response directly to the consumer the next working day offering support and guidance on next steps.  It follows warnings from the Financial Conduct Authority (FCA) throughout 2020 urging retail investors to be "extra vigilant" of such ...