We’re always striving to keep your account secure, and that’s why we’ve partnered with Stop Scams UK, to help protect you from financial scams and fraud.
In this article, we’ll explore the key data behind financial crimes, what our partnership with Stop Scams UK means for you, and who you can contact at True Potential if you’re ever in doubt about your online safety.
Why are we enhancing fraud protection for clients?
Fraud is the most commonly experienced crime in the UK, accounting for an estimated 41% of all crime reflected in the most recent Crime Survey for England and Wales.
Key findings from the 2024 State of Scams report also showed that scams was equal to 0.4% of the UK’s GDP, with the average loss per victim standing at £1,443. It was reported in November 2024 that people in the UK lost £11.4 billion to scams in the previous 12 months, up £4 billion on the previous year.
Recent research from later life charity Independent Age also identified that:
- 55% of over-65s could not correctly identify whether a text message purporting to be from their bank was legitimate or a scam
- 29% of older adults did not report fraud attempts
Meanwhile, nearly 5% of over-50s report that fear of scams keeps them up at night, while 7% of that age group avoid using the internet, and 8% avoid smartphones due to the same reason.
Who are Stop Scams UK?
Stop Scams UK are an organisation built to prevent, and protect individuals like yourselves from, financial crimes.
Working with the likes of Barclays, Lloyds, Amazon, and now True Potential, Stop Scams UK have already helped prevent over 1 million potential scam encounters.
What does this mean for clients?
Our partnership with Stop Scams strengthens the service we strive to offer, adding another layer of security and helping to safeguard our clients and their financial wellbeing.
One of the key benefits for clients is access to the 159 helpline – a quick, safe, and secure way to get support if they think they’ve encountered a scam.
If you receive a suspicious call, text, or email, you can simply stop, hang up or ignore it, and then dial 159. An operator will then be able to connect you directly to True Potential’s phone lines, where our team can help verify the message or call and advise them on what to do next.
We’re proud to take this step forward in protecting the financial future of our clients.
Our commitment to providing clients with security and confidence
Iain Wallace, Chief Risk Officer at True Potential, highlighted the importance of data sharing in fraud prevention and the crucial work being done by Stop Scams UK.
“Partnering with Stop Scams UK will enable us to gain valuable insight into scam trends through enhanced data sharing initiatives, strengthening protections for our clients.”
“Scams related to fraud continue to evolve at an alarming rate, becoming ever more sophisticated.”
“At True Potential, we are committed to providing our clients with security and confidence in their financial journey. Partnering with Stop Scams UK will enable us to gain valuable insight into scam trends through enhanced data sharing initiatives, strengthening protections for our clients.”
How you can stay safe
The main way that you can stay safe online is by being vigilant and verifying that you are being contacted by True Potential if you are ever in doubt or suspicious of a phone call or email.
If you believe that a phone call or email you have received may be a scam, we advise you do not interact with the call or email and get in contact with our Head Office teams.
It is estimated that 67% of fraud reported in the UK is linked to the use of modern technology or being online. Some key indicators of online scams can include guaranteeing returns on investments, asking for money for help, or requiring payment for a wrongdoing. These communications often come with pressure to act quickly. If you receive any communications that you believe are an online scam, the True Potential Head Office team are available to contact for assistance.
If you are in doubt about an email that seems to be from True Potential, you can type the web address into your browser – True Potential will only email you from either @tpllp.com or @truepotential.co.uk.
Specifically with suspicious emails, do not click any links that seem suspicious. If you are ever in doubt about a link or an email, please get in contact with one of our Head Office support teams listed below and we will be able to verify any communications for you.
When we are contacting you over the phone, we will never ask for your password, passphrase or security code. If you are asked for these details, we advise that you hang up and dial 159 where you’ll be connected to True Potential’s phonelines.
Further steps you can take to safeguard your money
If you are ever worried about your password or email address being compromised, please get in contact with our Head Office team and we will help secure your account.
Helpful numbers to contact if you have security doubts.
If you’re a True Potential Wealth Management client, you can call our Relationship Management Team on 0191 500 9164.
If you’re a True Potential Investor client, you can call our True Potential Investor Support on 0800 046 8007
You can also contact your adviser directly to discuss any queries with them.
If you are ever in any doubt about your online security in relation to a communication received by True Potential, please get in contact.
True Potential Wealth Management is authorised and regulated by the Financial Conduct Authority. FRN 529810. Registered in England and Wales as a Limited Liability Partnership No OC356611.
True Potential Investor is a trading name of True Potential Investments LLP which is authorised and regulated by the Financial Conduct Authority. FRN 527444. Registered in England and Wales, Company No. OC356027.
