How the scam works:
The Money Advice Service is a British agency that offers impartial, independent advice on a wide range of financial issues, including budgeting and debt, pensions and investments, savings and credit cards.
Recently, a series of phone calls have been made in the United Kingdom by scammers claiming to be MAS representatives. The crooks offer victims advice on debt or pensions, with the only purpose of getting hold of their money. After getting the victim's trust by offering a couple of decent advices, the scammers ask the victims to get access to their bank accounts or pension savings.
Needless to say, once they get to that point the accounts are depleted instantly.
How to avoid:
According to the Money Advice Service, the agency would never cold call you. “We would not ask for your bank details, nor help with transferring your pension, credit card or bank account. We offer you advice and guidance on how to handle your money better, but we don’t handle it for you.”, says the MAS' official website. If you think you are a victim of a financial scam, report this to Action Fraud.
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