Martin Lewis has warned people not to trust certain callers – here is what you need to know
Martin Lewis, the founder of Money Saving Expert (MSE), issued a warning on social media. Taking to X, formerly Twitter, he cautioned people to “not trust” certain callers who are falsely using his name whilst flogging grants.
He explained: “I’m getting reports that a firm is cold calling people offering grants for renewables and quoting that MARTIN LEWIS had encouraged people to engage with the company.
“The call is UTTER B******S! This is not true. Don’t trust them. Politely disengage and don’t speak to them.”
Previously, MSE has flagged up cases of fraudsters exploiting Martin’s likeness in adverts, with the finance guru himself warning the public that he doesn’t back these schemes. It’s absolutely vital to remember that if you come across Martin’s face plastered on advertisements flogging cryptocurrency, investments or banking products, for example, these are all bogus and completely fake, the Liverpool Echo reported.
MSE warns: “They’re dangerous and you should be on your guard. Martin NEVER endorses products and nor does MSE – so don’t be fooled.”
The company add: “To be clear, when we say Martin and MSE never endorse products, we mean we don’t put our name or logo to ANYTHING. Yes, we mention individual products and services on our site, but we don’t ‘support’ them.”
Household bills
Calls like this are especially important to be aware of this week as energy bills are expected to fall by around 7% from April, with the Government promising an average saving of £150.
Whenever financial changes are announced, such as this, there is a risk that fraudsters will target households with scams. They may even use Martin’s name and brand to appear more credible and trick people into handing over personal details to drain their bank account, so it’s important to read up on all changes and what action you need to take, if anything.
Recent forecasts suggest Ofgem will cut the energy price cap by £117, bringing it down to £1,641 a year for a typical dual-fuel household from 1 April. The announcement is due on Wednesday.
In November, Chancellor Rachel Reeves said £150 would be taken off the average household bill from April by scrapping the Energy Company Obligation (ECO) scheme introduced by the Conservatives.
However, people have been warned not to expect a simple £150 discount. The actual savings will depend on the size and type of home and how much energy is used.
You can read more about energy bills and ‘significant cut’ this week in new announcement here.
Money Saving Experts warning
Details about the fraudulent Martin Lewis advertisements and how to safeguard yourself against them can be found here – including warning signs to watch for. The MSE team has also set out measures to help you steer clear of scams, alongside advice on what action to take if you suspect you’ve already been caught out.
- STOP: If you’ve already engaged with a scam, cease all further contact straight away.
- CALL: Ring your bank directly and halt any payments that haven’t yet gone through (including recurring payments). For convenience and speed, you can dial the 159 hotline to reach the fraud department of major banks.
- REPORT: Report the scam to Action Fraud on 0300 123 2040 or via the Action Fraud website (England, Wales or Northern Ireland). If you’re in Scotland, report a scam through Advice Direct Scotland on 0808 164 6000 or via the Advice Direct Scotland website. You can also report scams to Police Scotland on 101. Another option (UK-wide), if it’s an online scam, is to report it to the Advertising Standards Authority. Do this in addition to reporting it to Action Fraud / Advice Direct Scotland.
- SUPPORT: If you wish to seek further help, contact Citizens Advice (England and Wales) or Citizens Advice Scotland. Alternatively, you can contact the Financial Conduct Authority’s helpline on 0800 111 6768 (UK-wide).
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