Fighting financial crime
Keeping Vitality members safe
Financial crime covers a wide range of criminal offences including fraud, money laundering, bribery and corruption, terrorist financing and tax evasion.
Financial gain is the primary motivation for these crimes.
Everyone is a potential victim, financial crime awareness is key to your protection.
Financial crime is not victimless and can have an impact on people in multiple ways; not only financially through the increase in policy premiums, but also emotionally - for example in instances where identity fraud is committed, it can particularly affect the confidence of vulnerable customers in their ability to manage their financial affairs.
Vitality are acutely aware that our business and our members are all potential victims. Below are some examples of the types of fraud that individuals could fall victim to:
- Identity theft – always keep your personal details safe
- Ghost brokers - we sell some of our insurance plans through brokers and intermediaries but we only deal with FCA authorised firms. Unfortunately, fraudsters sometimes target the places where you look for a quote online. When searching for an insurance deal, be aware that if it seems too good to be true then it probably is
- Mass marketing fraud scam email – emails luring individuals to claim fake prizes or large sums of money, very often targeting the elderly and vulnerable
- Internet scams – scammers may attempt to install programs on your computer which steal, wipe or lock your data
- Pension scams - pension and investment scams are often difficult to spot as they're designed to look genuine and can take such forms as:
- Investment fraud – often taken the shape of a cold call/text offer for a free “investment or pension review”
- Pension liberation
How can I protect myself?
Keep it secret
Consider your personal details to be as valuable as cash – in the hands of a criminal there is no difference.
Protect your information
Don’t give any personal information (name, address, phone numbers etc.) to people or organisations before first verifying their credentials.
Safeguard your plan details
Always protect your Vitality membership number and plan number.
Watch out for 'cold-calls'
Some fraudsters will "cold-call" armed with minimal information hoping to elicit a whole lot more. So, if you receive a suspicious phone call hang up immediately.
Vitality believes our customers are honest, and the contract between us is based on mutual trust. Unfortunately, just like you, as a business we have to remain vigilant protecting the claims spend, commission spend and third party transactions from dishonest individuals/entities.
- Vitality has Fraud Teams who are actively detecting and preventing fraud
- They work closely with other insurers and share information as detailed in our Privacy Notice
- Vitality will seek to recover any loses as a result of any dishonest or fraudulent actions
- If any claim is in any respect dishonest or fraudulent or if any dishonest or fraudulent means or devices are used by a customer, any member of their household or anyone acting on the customer’s behalf to obtain benefit under their plan (including any cashback, discounts or rewards), then all benefits under the customer’s plan may be lost and they may have to return to
- Vitality any payments already made as a result of any dishonest or fraudulent actions
- Vitality will also seek to recover any commission paid to a firm for a policy which is in any way deemed to be fraudulent
- Vitality carries out supplier due diligence and ensure a robust contract is in place prior to transacting with any third party.
Top 8 websites to visit for advice on scams
There's more than one way to protect yourself against financial crime
The Pensions Advisory Service
Find out how safe your pension is and receive impartial guidance 24/7
The Insurance Fraud Enforcement Department (IFED)
Get in touch with the City of London Police to report a financial crime
The Pensions Regulator
Learn how to spot the signs of a fraudster to protect yourself
Find out about the most common scams in 'The little book of big scams'
Get in touch
If you're a Vitality member and concerned that you may be a victim of fraud, get in touch:
0330 057 2158
0345 601 0072Monday–Thursday: 8:30am–6pm