Fraud Prevention
In today's digital world, fraudsters are provided with increased opportunities to deceive individuals into being conned or scammed. This means that it is more important now than ever to be vigilant and aware of common scams to help keep you and your money safe. Remember – if in doubt, don’t make the payment – an honest payee will always wait while you check out their credentials.
Current fraud trends
Fraud is constantly evolving, with scammers coming up with new ways to sound convincing, rush people into acting quickly, and bypass the usual warning signs. Staying vigilant is key, and understanding the latest trends can help you spot suspicious behaviour early. Below are some of the most common scam types we’re seeing right now.
Investment scams are on the rise, with criminals posing as entrepreneurs or representatives of legitimate‑looking companies. They often promise high returns, encourage small initial deposits, and show fake “profits” to tempt you to invest more. Once they’ve taken enough money, they stop responding and disappear.
Common signs of an investment scam:
- Little or no online information about the company or opportunity.
- Being asked to switch communication to WhatsApp instead of SMS or phone.
- Promises that any loan you take out will be easily repaid through investment “profits”.
- Encouragement to open a new bank account specifically for the investment.
- Requests for remote access to your device via tools such as AnyDesk.
- Claims that a loan can be “written off” using inside contacts or falsified documents.
Before investing, always check whether the company is legitimate, verify their regulatory status on the FCA Register or search for them on Companies House.
Fraudsters may claim they need remote access to your device to “help with the process”. This can give them the ability to view sensitive information, access apps, and capture personal data. Please be aware that Plata will never ask for remote access to your device.
Scammers are increasingly using artificial intelligence to create very realistic fake documents, voices, videos, or online profiles. These can appear genuine and are designed to build trust or pressure you into acting quickly.
Stay alert to cryptocurrency scams
Interest in cryptocurrency continues to grow, and unfortunately so do scams linked to it. Fraudsters often use polished‑looking adverts on social media, offering help with cryptocurrency or investment trading. These adverts may include celebrity photos or personal success stories, but the images and endorsements are usually fake or used without permission.
Scammers may claim to be “financial advisers” from legitimate‑looking trading platforms. To build trust, they often share fake screenshots or profit statements that appear to show impressive returns from small investments. These claims are not real.
Important: Plata is not connected to any cryptocurrency or stock trading platforms. We do not support, promote or provide funding for cryptocurrency or investment schemes.
How cryptocurrency, investment and WhatsApp scams work
Scammers often make first contact through social media and quickly move the conversation to WhatsApp. They use fake screenshots, AI‑generated content and made‑up figures to appear trustworthy.
You may be encouraged to take out a loan and send the money to a third party, with promises of a “guaranteed” return. These guarantees are false — the returns do not exist.
Key reminders to keep you safe
No Plata employee can write off your loan, guarantee profits, or promise repayment on your behalf. Any message suggesting this is a scam.
Plata has no relationship with cryptocurrency or investment companies and does not endorse these services in any way.
Fraudsters impersonating Plata
Debt collection scams
We’re aware that some fraudsters are contacting customers and claiming to be debt collection agencies acting on our behalf. These claims are false. Plata does not use debt collection agencies, and no one has the authority to visit your home or take payments directly from your employer.
If you receive a call, text or message like this, do not engage. Please report it to our Fraud team as soon as possible so we can help protect you and other customers.
Social media impersonation
Fraudsters may create fake Plata profiles on social media and use them to contact customers. These accounts are not connected to us and may attempt to request personal information, payments, or offer fake loans.
If you’re contacted by a suspicious account, avoid responding and report it through the platform as well as to our Fraud team.
How to identify legitimate Plata communications
To help keep you safe, it’s important to know how Plata will contact you. We only send SMS messages from +44 7782 621113, and our emails will always come from an address ending @plata.com. We will never ask for upfront fees, passwords, or security codes.
If you’re ever unsure whether a message is genuine, don’t reply. Contact us directly instead. Any suspicious messages can be reported to fraud@plata.com.
The consequences of taking out a loan for a false purpose
Even if you have unwillingly been scammed, there are still consequences that will fall on you if you have taken out a loan under false circumstances.
- Sharing your personal bank details with third parties may violate your account's terms and conditions, jeopardising your account's security and neglecting your responsibility to safeguard your personal information.
- Plata offers comprehensive scam warnings during our application process. These warnings should be read by all applicants. Disregarding these warnings could affect the results of any future investigations.
- As a CIFAS member, Plata is required to report any fraudulent activities to them. This could potentially affect your future credit or job prospects if a fraudulent mark is placed on your credit report.
If you take out a loan with Plata, you will be solely responsible for paying it back.
Protect yourself from third party fraud
Third party fraud, also known as identity theft, happens when an individual's personal details are used by a third party without knowledge or consent. This stolen information could be used to open new accounts under the victim's name (e.g. a credit card or a loan) or it could be used by the scammers to access the victim's real accounts and take their money.
Avoid using passwords that include your personal information like your date of birth, wedding anniversary or a family member’s name.
Always have up-to-date anti-virus software on your device
Password protect all your devices including your mobile phones. You can also add extra layers of security by password-protecting certain apps with facial recognition or fingerprint authentication.
Protect your wifi - read your wireless router's manual on instructions on how to set up a 'key'. This ensures no one else can access the internet through your router.
Monitor your credit file and bank accounts – you can monitor your credit file by using a free credit monitoring service which will analyse your file and alert you to any changes, searches or accounts opened in your name. To monitor your bank account, you can enable notifications in your banking app to see ingoings and outgoings.
Keep your computer's operating system up-to-date. This includes smartphones.
Reporting fraud
If you fall victim to a scam no matter how big or small, reporting it is always good practice. It not only helps protect others, but by doing so you might even recover your money or help catch the criminal.
Any fake emails can be forwarded to report@phishing.gov.uk. If you have received a scam message, you can forward it to 7726. Phone providers can take action by blocking numbers generating spam.
You can also report any scams to Action Fraud on 0300 123 2040 or by visiting their website at actionfraud.police.uk.
If you have received any suspicious emails or text messages claiming to be Plata, please report them to our Fraud department at fraud@plata.com.
Please be aware, if we contact you via SMS, you’ll see our message as from ‘Plata’ or +44 7782 621113.
We will never contact you from a number other than the above. If in doubt, don’t respond. Call or email us instead.
If you receive an email from us, it will only ever be from an email address ending @plata.com. Also, be wary of any emails asking you to make a payment to get a loan. Plata does NOT charge any upfront fee for your loan application.
Plata have also partnered with CIFAS who offer a facility called ‘protective registration’. This is beneficial for individuals who would like an element of protection against identity theft.
