Regulator fears rising cost of living puts consumers more at risk
There's a warning the rising cost of living could push more of us towards 'riskier financial behaviour'.
Earlier this month the Isle of Man Financial Services Authority began signposting towards consumer support, fearing also that the economic climate was leaving people vulnerable to fraud and scams.
The FSA says consumers continue to be stretched as prices rise across the supply chain, resulting in an increase in fraudulent activity globally.
The regulator's chief executive, Bettina Roth, says fraudsters will try to target anyone and are becoming more sophisticated:
"Everybody is a target", says Ms Roth - so do you feel more vulnerable to scams?
Manx Radio asked local shoppers whether they felt fraudsters would try to take advantage of the current financial situation.
Some feel financial pressures are putting people at risk, while others believe scammers are getting smarter:
If you're worried about spotting scams, understanding the impact of financial decisions or in need of other advice relating to money matters, you can find more information HERE.
You can hear more from Ms Roth in the latest edition of the Manx Newscast.
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