Protect against Fraud
Instances of criminals defrauding customers of financial institutions have unfortunately increased in recent years. With pandemic lockdowns accelerating our dependency on technology, fraudsters are using digital communications more than ever, in an effort to scam their victims.
We need to be vigilant to prevent fraud – this means recognising what these scams look like and protecting ourselves as much as possible against them.
Please note that Polar Capital will never:
- Make any unsolicited telephone calls to shareholders
- Ask for bank account details
- Ask you to transfer money, as we are not authorised to deal with retail investors or receive client money
- Contact you directly via any social media accounts
Any emails from Polar Capital will have the email address
@polarcapital.co.uk or @polarcapitalfunds.com.
Polar Capital's only social media accounts are:
Polar Capital does not have any other social media accounts. We do not have a WhatsApp channel, nor a presence on Instagram or Facebook.
Beware of fraudsters claiming to represent Polar Capital
We are aware of fraudsters impersonating Polar Capital and its employees in an attempt to obtain personal information that could result in financial loss to victims. These scams take many forms, including phishing emails and cold calls as well as fake websites. Here are some of the most common tactics used by scammers to glean personal information from account holders:
Phishing
This involves criminals attempting to trick individuals into performing an action such as clicking on a link that downloads harmful software, or updating apparently incorrect bank details with the real ones. Recent examples include text messages asking recipients to reconfirm postage delivery details and emails sent to workplaces asking employees to reset their passwords through a bogus link. These scams often rely on immediacy of action – before you respond to them, look for signs of illegitimacy in the sender’s address, the appearance of the communication or, better still, use a previously trusted method of communication instead of any new links.
Fake newspaper articles
Articles on seemingly genuine websites such as news journals advertising how investors should recover their money via a third party may not be as genuine as they seem. Before following any of the links or guidelines on the website, consider independently verifying your findings by checking the Polar Capital website, calling the investor relations helpline or conducting your own searches online.
Boiler room fraud
This involves the mis-selling of worthless or non-existent investment opportunities, with the aim of encouraging investors to hand over money. Criminals often contact individuals with a preprepared coercive sales pitch and will regularly promise outsize returns with low risk. You can find more information on boiler room scams here.
Clone firm investment scam
This involves fraudsters using the name and registration details of a real investment firm but with their own contact information.
The aim is to give the appearance of credibility, should individuals attempt to verify a company’s legitimacy. Always use the contact information on a recognised regulator’s register instead of that of individuals, who contact you initially. In the UK this means checking the Financial Conduct Authority’s (FCA’s) register of authorised firms. You can see an example of individuals operating as clone firms of Polar Capital here.
Fake websites
Websites mimicking those of legitimate organisations contain links with potentially malicious software, as well as login portals designed to wrongfully collect your personal data. Before following any new paths to sites, likely from an inbound communication, think about navigating there from trusted search engines or previously verifiable links.
Some websites, including daltoncapital.co.uk, polar-capital-trust.com and polarcapitaltrust.co.uk, are fraudulent and are not related to Polar Capital.
Beware of any communications – letters, emails, phone calls, text messages – that involve you parting with money or handing over sensitive personal information.
Scammers can appear professional and trustworthy, and often misuse a company’s information, including staff names, so even experienced investors may fall victim to these schemes.
Some of the FCA’s tips to protecting yourself against fraud include:
Rejecting unsolicited investment offers, specifically those promising high returns.
Beware of investment opportunities advertised on social media or offered over the phone.
Always verifying a company’s legitimacy by checking the FCA Register.
Remember, even if an organisation is listed here, it is still wise to use the contact details listed by the FCA.
Considering seeking independent advice before investing
Especially where the inducement to invest has felt pushy or coercive.
If you have any concerns about or wish to report suspected fraudulent activity linked to Polar Capital or any of our products or companies, you should:
Call our Client Service’s on 0207 227 2700 or emailing us on client.support@polarcapital.co.uk.
Contact Action Fraud on 0300 123 2040 or online at www.actionfraud.police.uk
Further information on how to protect yourself can be found on the Financial Conduct Authority’s website: www.fca.org.uk/consumers/protect-yourself-scams.
If you suspect you have come into contact with a fraudster and have disclosed personal or account details, or have handed over money, you should:
Inform your bank and any other financial institutions where you hold details or accounts
Contact Action Fraud on 0300 123 2040 or online at www.actionfraud.police.uk.
Report the incident to the police
Inform the FCA online or by phoning 0800 111 6768
