The savings bond scam is a well-known financial crime, affecting more than 40 million Americans. The investment giant, Aviva, revealed details of the impersonation fraud, which has caused more than PS4 million in losses to savers. The criminals set up impersonation websites of well-known financial services firms, like the Aviva savings bond website, and convinced unsuspecting consumers that their product is safe. However, the employees of Aviva were not fooled and warned Peter Fairchild about the savings bonds scam, which is illegal.

The scammer can pose as a genuine investment website by asking for personal and financial information. Some fraudsters have even asked victims to send a photograph of their identification to verify their identity. These fraudulent websites may encourage you to sign up for bonds or ISAs, and they can use these credentials to access your accounts in other places. Therefore, you should never give your financial information to a fake investment site. It’s crucial to remember that the scammers will steal your passwords and other sensitive information to commit fraud.

Many of these fake investment websites ask you for your financial and personal information before registering for their services. Some even ask you to send a photo of your ID to verify your identity. These fake investment websites may encourage you to open a new bond or ISA account, and will often offer a free service to create an account. Beware of such offers, as they may steal your passwords and access your online accounts. You should never purchase savings bonds online if you have no idea of their legitimacy.