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Griftlands By Don t Starve Dev Klei Releases June 1

Financial advice scams see con artists clone established Dorset firms

Scam artists are targeting investors by mimicking established firms, warns Kevin Forbes, pictured inset THE pandemic has fuelled an “attack of the clones” by con artists who pose as established financial advisers, an industry figure has warned. An absence of face-to-face contact, combined a reduction in the number of independent financial advisers taking on new clients, has presented a golden opportunity for scammers. The Financial Conduct Authority (FCA) received nearly 4,000 reports of clone scams last year and said criminals were making it much harder to spot them. April last year saw a 29 per cent month-on-rise in this type of scams as the industry entered its first month of lockdown. Over the course of 2020, fraudsters imitating genuine investment firms cost consumers an average of £45,242 each, totalling £78million for the year.

Financial advice scams see con artists clone established firms

THE pandemic has fuelled an “attack of the clones” by con artists who pose as established financial advisers, an industry figure has warned. An absence of face-to-face contact, combined a reduction in the number of independent financial advisers taking on new clients, has presented a golden opportunity for scammers. The Financial Conduct Authority (FCA) received nearly 4,000 reports of clone scams last year and said criminals were making it much harder to spot them. April last year saw a 29 per cent month-on-rise in this type of scams as the industry entered its first month of lockdown. Over the course of 2020, fraudsters imitating genuine investment firms cost consumers an average of £45,242 each, totalling £78million for the year.

LV= to be sold to Bain Capital, co-founded by Mitt Romney

THE big Dorset employer LV= is set to be sold for £530million to an American private equity firm co-founded by former presidential candidate Mitt Romney. LV= says the sale of its savings, retirement and protection business to Bain Capital next year will mean “unrivalled” commitment to the company and its people. The chairman of the Personal Finance Society locally said he hoped the new owners would back an “amazing local business”. LV= had already sold its general insurance arm to Allianz, with the two businesses coexisting at its County Gates headquarters. Alan Cook, chairman of LV=, said: “As a newly standalone life and pensions business in an increasingly competitive market, the board recognised that LV= required significant long-term investment to be sustainable.

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