Scams are nothing new. From the Nigerian Prince who needs our help transferring money to the glut of fake goods sold as genuine articles, scams are here to stay. But forget the cheap Louis Vuitton knock-offs – the new battleground is UK savers.
UK savers are perfect targets. They have money readily available (at times tens of thousands of pounds) and are desperate to beat the paltry 1% that most big banks are touting. Over the last few years, savers chasing the best available rates have also become used to a lot of new names popping up in best buy tables. These new savings-focused banks include Charter Savings Bank and even Al Rayan Bank, neither of which are household names. Combined, these factors have helped to make savers deeply vulnerable targets.
Just a quick Google search of some of these new savings banks returns a number of Google advertisements offering what appear to be compelling savings alternatives.
Comments
Join the debate for just $5 for 3 months
Be part of the conversation with other Spectator readers by getting your first three months for $5.
UNLOCK ACCESS Just $5 for 3 monthsAlready a subscriber? Log in