Money Saving Expert Martin Lewis is urging Brits to be cautious about third-party firms claiming to help recover Child Trust Fund (CTF) money. He warns that thousands of young adults are unaware they are owed an average of £2,212 each, but these companies are charging exorbitant fees for a service that’s easily done for free. This article explains how the CTF scheme works, who is eligible, and how to claim your money directly from HMRC.
People contacting a financial scams helpline over the past year have typically lost more than £16,000, according to a Government-backed body. The Money and Pensions Service (MaPS) said that, between April 2023 and March 2024, the 833 people who contacted a dedicated helpline lost a total of £13.6 million. The average loss to fraud was £16,297 per person.
Homeowners beware: a new fraud scheme is targeting your property using quitclaim deeds. Criminals are manipulating or forging signatures to steal the right to a property, often targeting senior citizens and those living in senior communities. Despite widespread use, victims have limited options after the documents are signed. Follow these tips to protect yourself: check property records, avoid transferring ownership to mortgage assistance companies, regularly check your credit report, review insurance terms, and contact authorities if you suspect fraud.
