SVS Securities - shut down?

Reaper

pafpcg wrote: »

Presumably, they're trying to keep their own telephone costs down by getting the victims to call them back

No, to make high volumes of calls rather than have somebody at their end wait for you to answer a computer makes the call. If you don't answer none of their time has been wasted. If you do it tries to connect you with a member of staff. If none is available at the time it disconnects. Annoying but again no time lost at their end, just yours. Usually you just get silence or are disconnected, though in this case it was a recorded message.
https://www.ofcom.org.uk/phones-telecoms-and-internet/advice-for-consumers/problems/tackling-nuisance-calls-and-messages/abandoned-and-silent-calls

gadgetmind

Interesting that both email addresses and telephone numbers of SVS clients seem to have escaped to some scammers, presumably for someone somewhere getting a substantial kick back.

olderbutnowiser

I got exactly the same phone call yesterday at 2.45 pm with the recorded message. Number is now blocked.

johnburman

All XO clients will be able to access the Web. Even so the outsourced helpline is still necessary. And a comfort.

ComplaintsInsider

I suspect they have been involved in some kind of fraud involving pension liberation schemes. I have several clients that were told to invest their pensions in worthless SVS unlisted stock in return for loans. This involved several companies that keep cropping up using 'execution only' instructions to cover themselves. A chap named Simon fox at SVS appears to be involved.

coyrls

Probably a good idea to remove that name or you risk this whole thread being removed.

englishmas

Hi Coming back to the phone calls. I understand it was a scam, my concern is that how this person manage get my telephone no and has information about my account with SVS. I thought the data protection act stoped this.

eskbanker

englishmas wrote: »

Hi Coming back to the phone calls. I understand it was a scam, my concern is that how this person manage get my telephone no and has information about my account with SVS. I thought the data protection act stoped this.

Only in the same way that the motorway speed limit stops everyone from driving at more than 70mph, i.e. it's one thing to outlaw something, it's an entirely different matter to enforce that....

masonic

englishmas wrote: »

Hi Coming back to the phone calls. I understand it was a scam, my concern is that how this person manage get my telephone no and has information about my account with SVS. I thought the data protection act stoped this.

Three possibilities:
1) Undisclosed data breach that happened prior to the company being put in administration
2) Rogue employee, unhappy with being made redundant, decided to supplement their redundancy pay
3) Data was sold as just another dodgy action of the company (seems mild compared with the other things it is alleged to have done at the expense of its customers)

pafpcg

masonic wrote: »

Three possibilities:
1) Undisclosed data breach that happened prior to the company being put in administration
2) Rogue employee, unhappy with being made redundant, decided to supplement their redundancy pay
3) Data was sold as just another dodgy action of the company (seems mild compared with the other things it is alleged to have done at the expense of its customers)

Why have you excluded the possibility that the data breach occurred after the company went into administration?
Further, the client data would be a valuable asset. After liquidation, the administrators would be expected to maximise recovery by selling any assets which have value.
Time for the ICO to get involved?