Scam Warning - Impersonation Scams

We are proud of our purpose, which helps our customers plan for and build towards financial security after they stop working. But protecting your money against fraud in the here and now is very important to ensuring your financial wellbeing too.

To help protect you from scams, we’ve pulled together some helpful guidance on what you can do if you’re worried that you’ve been targeted by scammers.

Our Fraud and scams page provides details of recent scams and gives helpful tips on how to look for and protect yourself against fraud.

Fake bonds and high-rate investment products sold using Euroclear Bank and RLAM names

We’re aware that fraudsters are using the names and company details of Euroclear Bank and Euroclear Bank (RLAM) to sell fake ISA, bond, and investment products.

These products:

• Offer unusually high rates of return.
• Are being offered through fake comparison-style websites.

The websites have been set up by scammers to steal personal details and to make themselves appear genuine when they contact you.

If you visit these fake websites, you might be asked to provide some personal information. If you do, you could be contacted by fraudsters who claim to work for Euroclear Bank or RLAM. You might also be sent what look like Euroclear Bank documents or application forms in the post. These may ask you to provide payment or bank details.

What do I need to know?

These fraudsters aren’t connected to Euroclear Bank in any way.

This type of fraud, where scammers pose as a legitimate company, is called an ‘impersonation scam,’ and the fake business or websites they set up are sometimes called ‘clone firms.’

We don’t sell bonds or investment products directly to customers. And we’d never cold call potential customers by phone or send unsolicited emails to get personal or banking information. If you’re contacted in this way, it isn’t from Euroclear Bank.

What do I need to do?

If you’ve been contacted by fraudsters using the Euroclear Bank or RLAM name or if you’re worried that an approach from Euroclear Bank might not be genuine, please contact us to let us know.

Report fraud by calling us at 0345 602 1885 or by sending us an email.

You should also contact Action Fraud and your bank immediately if you’ve given personal information or bank details to fraudsters believing that they’re genuine.

We’re taking action to stop these scams

We take any attempt to defraud our customers and misuse the Euroclear Bank name very seriously.

We’ve reported this impersonation scam to our regulator, the Financial Conduct Authority (FCA). They’ve added a warning notice on their website to advise of clone firm activity using the Euroclear Bank name. For more details, please visit the FCA website.

We always report instances of fraud using our company name. If you’ve been approached by fraudsters in this way, please get in touch to let us know and we’ll send details of the fraud to the police via Action Fraud.

Warning signs to look out for

If an offer seems too good to be true, it probably is. With interest rates at an all-time low, you should be suspicious of investments that claim to guarantee a high return.

The FCA advises investors to reject any unexpected contacts about investment opportunities.

There are also warning signs you should look for that might suggest the ‘opportunity’ is really a scam. These include:

• You’re contacted unexpectedly by phone, online, post, or in person.
• You’re put under time pressure to accept an opportunity or get a bonus or discount.
• They share fake reviews they say are from other people who have invested.
• They promise very high returns or much better interest rates than other providers.
• They use fake websites and documents to pass themselves off as legitimate.

For more information about how to avoid investment scams, visit the FCA website.