Tackling impersonation fraud
Insight is very alert to the threat posed by criminals who masquerade as authorised investment firms in their attempts to defraud investors. We have seen cases where fraudsters have attempted to misuse our brand, recreate fake versions of our materials and impersonate members of our staff in their efforts to deceive investors. This can sometimes result in individuals sharing their identity documents with, and remitting funds, to criminals.
We are witnessing the continued growth and increasing sophistication of impersonation fraud across the global cyber threat landscape. As this threat evolves, it is becoming critical to proactively mitigate the risk and raise awareness among our clients.
Insight is committed to protecting our clients and the broader market from impersonation fraud through the following measures:
- As a responsible member of the investment community, we work to raise awareness of the threat of impersonation fraud.
- We seek to identify and report attempts to misuse our name as well as doing what is possible to close fraudulent email domains and websites down.
- We ensure incoming fraud enquiries are logged and that investors receive timely responses confirming that the contact made to the investor is not us.
- We issue regular reminders through our social media accounts and make regular updates to our web notices (for example with advice for investors about how to avoid impersonation fraud).
- We encourage UK investors who are concerned that they have been contacted by fraudsters purporting to be Insight to report to the Financial Conduct Authority (the FCA) and to Action Fraud, the national fraud and cyber crime reporting centre. We also ask them to tell us about it directly, in as much detail as they can, via fraud@insightinvestment.com. Insight can only respond with regards to fraud attempts directly misusing the Insight brand.
- We advise discussing fraud risks with your family and friends and the more vulnerable members of our society in particular. The following sites have good resources for advice on avoiding investment and pension scams: Action Fraud, FCA ScamSmart and Which? Consumer Rights.
- We utilise a brand protection service to proactively identify groups seeking to use Insight’s trademarks and mislead clients and investors.
We firmly believe that reducing the global threat of impersonation fraud requires a united effort across industry. Collaboration with legislators, regulators, and law enforcement is essential to strengthen our collective defences, share intelligence, and drive meaningful change. By working together, we can better protect our clients, uphold trust in the market, and disrupt the tactics used by increasingly sophisticated fraudsters.