‘I almost fell for a share scam... and then the alarm bells rang’
COLD-calling in a quest either to defraud or persuade you to do something against your best financial interests is not limited to pensions, writes Jeff Prestridge.
Companies looking to earn a fat commission from an insurance mis-selling or personal injury claim are notorious cold-callers, as are scammers probing to get hold of your key bank account details so they can steal the contents.
Web designer David Catchpole was recently a recipient of a cold-call that could have resulted in financial loss if he had not had his wits about him.
David, who lives in Ashington, Essex, was phoned by a company called Rowlands Advisors which said it was looking to buy his BT shares at a premium for a ‘major shareholder’ ahead of a takeover bid.
A shareholder since British Telecom was privatised in 1984, 71-year-old David was initially suspicious, but the more he heard from the caller, the more he thought the request might be genuine.
He says: ‘At first, alarm bells rang in my head and all I could think of was scam, scam, scam. But it all started to sound above board.’
He was then emailed with a form to complete – a nondisclosure agreement confirming he would not ‘disclose confidential information about the acquisition of BT’ to other parties. They also asked him for some key personal details plus the number of shares he held.
Then alarm bells rang again – and rightly so. Although Rowlands says it is a huge firm and has been in business since 2009, its website was only set up a month ago. Fees for its registration have only been paid for a year. Also, the website’s content has been culled from scam website Allied Capital Consultants.
Tony Hetherington, The Mail on Sunday’s consumer champion, says the call David received has all the hallmarks of a scam which could have resulted in him being asked for money upfront or giving away sufficient personal information to leave him prone to fraud.
David says: ‘It is the first time anything like this has happened to me.’ When Rowlands rang again after sending him the non-disclosure form, he ‘politely’ told them not to contact him again.
Most – not all – nuisance calls can be stopped by registering with the Telephone Preference Service at tpsonline.org.uk. Or call 0345 0700707.