Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
Page 1
    • mjm3346
    • By mjm3346 28th Oct 16, 4:37 PM
    • 40,401 Posts
    • 311,898 Thanks
    mjm3346
    • #2
    • 28th Oct 16, 4:37 PM
    • #2
    • 28th Oct 16, 4:37 PM
    Shouldn't make any difference if it's pensions and investments or something else - all cold calling by telephone or in person should be banned and proper punishments imposed.
    • Thrugelmir
    • By Thrugelmir 28th Oct 16, 4:44 PM
    • 63,443 Posts
    • 56,263 Thanks
    Thrugelmir
    • #3
    • 28th Oct 16, 4:44 PM
    • #3
    • 28th Oct 16, 4:44 PM
    I receive calls on any number of topics except pensions and investments! Ban all cold calls.
    “The stock market is a device for transferring money from the impatient to the patient.” – Warren Buffett
    • colsten
    • By colsten 28th Oct 16, 4:59 PM
    • 10,401 Posts
    • 9,598 Thanks
    colsten
    • #4
    • 28th Oct 16, 4:59 PM
    • #4
    • 28th Oct 16, 4:59 PM
    Also, people should be educated
    1. in putting the phone down on unwanted callers
    2. blocking unwanted calls
    3. not posting their phone numbers on social media
    • bowlhead99
    • By bowlhead99 28th Oct 16, 6:01 PM
    • 8,827 Posts
    • 16,163 Thanks
    bowlhead99
    • #5
    • 28th Oct 16, 6:01 PM
    • #5
    • 28th Oct 16, 6:01 PM
    Also, people should be educated
    1. in putting the phone down on unwanted callers
    2. blocking unwanted calls
    3. not posting their phone numbers on social media
    Originally posted by colsten
    Providing simple educational public service messages would seem to be simpler and more practical than trying to enforce prosecutions against firms who make dodgy offers after calling you from an offshore number.

    "Hey, idiot. Don't give your personal or financial details to people who cold-call you, idiot"

    "Hey, idiot. Don't buy financial services from anyone who cold-calls you, because if they are doing that they definitely will *not* be regulated to provide you with financial services, idiot."

    "Hey, idiot. When you give out your personal financial details and buy services from an unregulated business who cold-calls you, because you're greedy, you have to take much of the blame yourself, when you inevitably lose a big pile of your money by being involved in an unsuitable or illegal scheme. if we can't get it back for you easily, don't expect our sympathy and handouts. You're screwed, idiot."

    Of course, it is not possible to entirely protect people from themselves through widely publishing simple messages, even if those messages went viral because of their outlandish patronising insulting nature.

    Topical example: back in the mid nineties, the TV news, magazines and papers were full of the fact that women's state pension age was going up by a whole five years to bring it in line with men. Loads of women claim they never noticed and MSE recently supported their petition and campaign to reverse the rules some twenty years later...

    So, here's another petition that Martin is supporting as a consumer champion. Sure, make another law if you like, if you think CPS has the resources to enforce unregulated financial services cold-callers any better han FCA is currently able to. But I'd be happier with better education through simple publicity and then say caveat emptor / natural selection is the way forward.

    The prevalence of scammers popping up to sell dodgy services is a symptom of people being idiots, rather than the other way around.It is the sane reason email and text spam exists. If you can't stop 100% of cold callers, you have to educate people not to engage with them anyway, and once people stop engaging with them there is a lot less money in them doing what they do.

    Some people will still get screwed because they are "vulnerable" (or idiots). Comes back to the "natural selection" point that you can't protect people from themselves.
    • Silvertabby
    • By Silvertabby 28th Oct 16, 6:02 PM
    • 4,280 Posts
    • 6,661 Thanks
    Silvertabby
    • #6
    • 28th Oct 16, 6:02 PM
    • #6
    • 28th Oct 16, 6:02 PM
    I don't have that much of a problem with cold callers. Don't get many - and those that do get through are easily dealt with (although some of my tactics don't half make Mr S cringe!)
    • LHW99
    • By LHW99 28th Oct 16, 6:43 PM
    • 1,961 Posts
    • 1,826 Thanks
    LHW99
    • #7
    • 28th Oct 16, 6:43 PM
    • #7
    • 28th Oct 16, 6:43 PM
    I am always amazed by how many times the same automatic message comes through and talks to my answer machine. So far the machine has been very sensible and not taken up any 'offers', but when it gets older ........
    • soulsaver
    • By soulsaver 28th Oct 16, 11:15 PM
    • 2,354 Posts
    • 1,142 Thanks
    soulsaver
    • #8
    • 28th Oct 16, 11:15 PM
    • #8
    • 28th Oct 16, 11:15 PM
    Thing is, people like you (us) don't need it outlawed. These scammers aren't trying to find YOU, though. They are hoping by a process of elimination to find your gran/grandad who has mentally deteriorated a bit, who is isolated but trying to maintain an independence, maybe lonely & bored; maybe wants to leave a bit more for the loved ones that don't come round that often.... and now, not so worldly wise.
    It's tough to propose a good solution... but they need protecting from the scumbags.
    • Plus
    • By Plus 29th Oct 16, 2:26 PM
    • 409 Posts
    • 320 Thanks
    Plus
    • #9
    • 29th Oct 16, 2:26 PM
    • #9
    • 29th Oct 16, 2:26 PM
    Cold calls are just the tip of the iceberg. I wonder how much of this can be stopped by following the money.

    In the case of spam or 419 scams, the spammer is sending internationally, the machines sending it belong to innocent parties but have been compromised, and there isn't much you can do if the payment goes Western Union to somewhere where it's picked up in cash.

    In this case, cold calls are the initial hook, but often they lead to another operation that talks you into signing up to things you didn't intend. They look like a genuine UK outfit - maybe they rent an office somewhere, maybe a posh salesman comes to visit. The boiler room doing the cold calling may be overseas, but they put you through to a UK company and your money is moved to a UK account. Things like pension transfers require a lot of UK infrastructure.

    Thus far these businesses can get away by being unregulated - and there's nothing to stop people investing there. Perhaps the way forward might be to tighten the rules on unregulated investments, and that they might use unsolicited approaches (calls or letters or emails) is a huge red flag. I get plenty of spam about property 'investment' and those depths have also been well-plumbed in the media recently. Likewise retail bonds.

    How damaging would it be to insist that all investments must be regulated, to some degree?
    • bigadaj
    • By bigadaj 29th Oct 16, 8:21 PM
    • 10,828 Posts
    • 7,162 Thanks
    bigadaj
    The answer to the last post is that there would be a huge outcry I of human rights, accusations of big brother and people being outraged that all these things could be tracked and made accountable.

    There's no logical reason why the uk shouldn't have ID cards, it would solve so many issues. The big story on the bbc about foreigners taking advantage of the NHS would be solved by this, but no, this is the uk, we can't have ID cards because we're not an authoritarian or totalitarian state.

    The fact we allow eu citizens to travel on an ID card when we need a passport to enter our own country is apparently fine.
    • Silvertabby
    • By Silvertabby 30th Oct 16, 7:54 AM
    • 4,280 Posts
    • 6,661 Thanks
    Silvertabby
    How damaging would it be to insist that all investments must be regulated, to some degree?
    That wouldn't stop the scammers - or the people who fall for the scams because they can't see past the £ signs in their eyes.
    • Malthusian
    • By Malthusian 31st Oct 16, 1:38 PM
    • 5,876 Posts
    • 9,732 Thanks
    Malthusian
    ID cards? Christ, did I wake up in 2006? Someone'll start talking about the ozone layer next.
    • Silvertabby
    • By Silvertabby 31st Oct 16, 1:41 PM
    • 4,280 Posts
    • 6,661 Thanks
    Silvertabby
    I carried an ID card for 22 years. Didn't do me any harm!
    • Reaper
    • By Reaper 1st Nov 16, 8:21 AM
    • 6,525 Posts
    • 4,881 Thanks
    Reaper
    I signed but am doubtful it will make much difference as many of the calls already come from abroad. Even when a UK company is involved they often buy leads from a foreign cold caller.
    • Freecall
    • By Freecall 1st Nov 16, 9:17 AM
    • 1,100 Posts
    • 1,018 Thanks
    Freecall
    I carried an ID card for 22 years. Didn't do me any harm!
    Originally posted by Silvertabby
    Are you the same person who for 22 years never wore a seatbelt, locked his door or insured his house? I heard that it never did him any harm either.
    • Silvertabby
    • By Silvertabby 1st Nov 16, 10:36 AM
    • 4,280 Posts
    • 6,661 Thanks
    Silvertabby
    “ I carried an ID card for 22 years. Didn't do me any harm!
    Originally posted by Silvertabby
    Are you the same person who for 22 years never wore a seatbelt, locked his door or insured his house? I heard that it never did him any harm either.
    Freecall - what on earth on you on about? What has my Armed Forces service got to do with someone else's stupidity?
    • Freecall
    • By Freecall 1st Nov 16, 11:12 AM
    • 1,100 Posts
    • 1,018 Thanks
    Freecall
    Freecall - what on earth on you on about? What has my Armed Forces service got to do with someone else's stupidity?
    Originally posted by Silvertabby
    I was simply pointing out (in a rather tongue in cheek way) that just because somebody has direct experience of doing something which did not cause them any detriment does not mean that this logic can be extended to the population as a whole.

    The argument structure used - I did xxx and I am fine - is used from early childhood but it is often a false logic.
    • Stevie Palimo
    • By Stevie Palimo 1st Nov 16, 11:25 AM
    • 3,097 Posts
    • 4,419 Thanks
    Stevie Palimo
    Nothing will ever stop cold calls end of, I never understand why this is brought up time and time again and nothing will change, It is a time warp whinge that really just needs education if you do not like the cold calls.

    By education I mean watch what you sign up to, If you loathe them that much then buy a true call system for your phone line at home and simply ignore or add to your mobile phones blacklist, The blacklist part will only stop a valid number and not one from a dialler.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,734Posts Today

7,864Users online

Martin's Twitter
  • RT @thismorning: As a ban on rip-off bank fees is announced, @MartinSLewis explains if you can reclaim, and how to cut your overdraft costs?

  • RT @justinbones: Just looking at how the bad weather may be impacting business and the economy. Thankfully someone has already looked at th?

  • RT @bbc5live: .@MartinSLewis joins @EmmaBarnett from midday to answer your money saving questions. ???? 08085 909 693 ???? 85058 Or post your q?

  • Follow Martin