Stay Alert to Scams & Fraud

Scams and fraud often get used interchangeably, but here’s how we describe them:

• A scam is a planned attempt by someone to trick you into giving away money, your account details or personal information.
• Fraud is when someone uses false information or deceit with the aim of gaining a financial or other advantage, often at your expense.

Both may involve phone calls, emails, texts, social-media messages or even in-person contact. In short: someone may appear to be trustworthy, but their aim is to manipulate or deceive.

At Paytrex, we monitor for these risks, but safeguarding your accounts also depends on you being alert.

To help you stay ahead of fraudsters, here are some of the most common red flags:

• Uninvited contact If you receive an unexpected call, email or text saying, “we need you to…” or “we’re from your bank/FX provider/government agency.”
• Pressure to act quickly Fraudsters often create artificial urgency: “transfer now or lose out”, “your account will be closed”, “this offer only lasts today”.
• False legitimacy and slow-burn approaches Not all scams rely on urgency. We increasingly see investment fraud where scammers take time to build trust, pose as representatives of real firms, or reference genuine individuals and companies using information gathered from platforms like LinkedIn. A lack of pressure does not mean an opportunity is genuine.
• Requests for sensitive information or access No genuine provider will ask you for your full password, PIN, verification code or ask you to move money to an account you don’t recognise.
• Offers that seem too good to be true Unusually high returns, guaranteed profits, or “once-in-a-lifetime” opportunities are classic scam cues.
• Unusual payment or account change requests Being asked to send money via gift cards, cryptocurrency, third-party accounts or to a personal account rather than a business one should trigger caution.
• Poor or odd website/communication details Check sender email addresses, spelling/grammar errors, mismatches in branding, unexpected attachments or links.

If something feels off, stop and take a moment to check. Better to pause and verify than act under pressure.

Here are some scam types that are particularly relevant in the international payments and foreign exchange space. Understanding them helps you stay one step ahead.

Investment Scams

Customers may be approached with what looks like a legitimate investment opportunity, often involving foreign investments, property, cryptocurrency, or high-yield trading strategies. These offers may come via social media adverts, messaging apps, or unsolicited contact from so-called “investment managers” or “brokers”.

Fraudsters often use professional-looking websites and convincing scripts, but the underlying investment does not exist or is entirely misrepresented.

Impersonation Scams

Someone pretending to be from Paytrex, your bank, tax authority (e.g., HM Revenue & Customs) or another trusted organisation may contact you, say your account is compromised, and ask you to transfer funds or provide access codes.

Authorised Push Payment (APP) Scam

You believe you are paying a legitimate invoice, supplier or investment, but you are actually transferring funds into a fraudster’s account. Since you authorised the payment, recovery is often difficult.

Romance & Social-Media Scams

A scammer builds trust by posing as a friend, partner or contact on social media, then asks for money, sometimes tying it to an emergency or urgent travel/medical need abroad.

Invoice & Business Email Compromise

In a business environment, criminals may hack or spoof email accounts, then send fake invoices to payees so you send money thinking it’s legitimate.

Phishing, Smishing & Vishing

• Phishing = fake emails or websites designed to steal your login or payment details.
• Smishing = text messages (SMS) that direct you to fake sites or ask you to call and provide details.
• Vishing = phone calls from someone pretending to be from a bank, payment provider or regulator, seeking details or urging transfers.

Account Take-Over

If someone obtains your login credentials or personal data, they could access your account and move funds without your knowledge.

If you’re considering an investment, these steps can help protect you:

Be cautious of social-media approaches

Authorised investment firms and reputable brokers do not conduct investment business through social media messages or unsolicited adverts.

Do your research before investing

Check whether a firm is authorised using the Financial Conduct Authority Register and review the FCA Warning List. Make sure you fully understand what your money will be invested in. If it isn’t clear, do not proceed.

Think carefully before sending money

While some fraudsters push you to act immediately, others deliberately avoid pressure and instead build trust over time to appear legitimate. Regardless of the approach, once money is sent it can be extremely difficult to recover, and investments made with unauthorised firms are not protected by the Financial Ombudsman Service or the Financial Services Compensation Scheme.

Be wary of guaranteed profits

All legitimate investments involve risk. Claims of guaranteed, risk-free, or “fool-proof” returns are a major red flag.

If it sounds too good to be true, it usually is

Promises of very high returns in a short period are rarely genuine. As a rule of thumb, modest returns are far more realistic than claims of hundreds of percent in days or weeks.

1. Contact Paytrex immediately through our dedicated support channel clientsupport@paytrex.co.uk and let us know what has happened. The sooner we know, the faster we can act to protect your account.
2. Stop further communication with the suspected scammer. Do not send more money, do not share further information, and do not click on any further links or attachments.
3. Review your accounts and transactions and check for any unauthorised activity, changed details, or unfamiliar accounts.
4. Report the incident to the proper authorities:
   • Action Fraud, the UK’s national fraud and cybercrime reporting centre (website: www.actionfraud.police.uk or telephone 0300 123 2040)
   • For business clients, you may also need to report to your own bank, auditor or regulator depending on your set-up.
5. Preserve all evidence by keeping any correspondence, call-logs, screenshots, emails, messages or receipts connected with the scam. This helps both us and law-enforcement to investigate.
6. Review your security settings. Change passwords, enable two-factor authentication where possible, and ensure your contact details are up to date.

Here are some trusted external resources with practical advice and reporting tools:

• Take Five to Stop Fraud – A simple, impartial campaign offering practical tips to avoid financial fraud.
• Action Fraud – UK’s national fraud-reporting centre. Report suspected fraud and get support.
• Stop! Think Fraud – UK government-led campaign with guides on staying safe online and avoiding scams.
• Financial Conduct Authority (FCA) – ScamSmart – Guidance on how to check whether an investment or firm is legitimate.