Lloyds is taking the time to warn individuals who might be interested in the idea of investing to gain cash growth, as many are being targeted by a sophisticated scam. Investing can be a fantastic way to make money, and with interest rates as low as they are at present, many are being tempted by the idea. However, it is important to remain on one’s guard, as fraudsters are on the prowl.

No one knows this more than David Jeffrey, 81, a loyal Halifax customer since 1992 and a retired businessman.

Mr Jeffrey completed an online questionnaire where he expressed his interest in taking out a two-year fixed Bond investment.

He was not surprised when he received a phone call the next morning claiming to be from a well-known company, which offered Mr Jeffrey a prospectus on investing.

The former businessman then received a link to click on a clone website, and a call from someone who said they were a “compliance manager”, talking him through the process of…

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