Almost Fooled: How One Email Nearly Cost £20,000 

It Looked Real, But It Wasn’t: What You Need to Know About Email Scams

Let’s be honest, most scam emails are pretty easy to spot. Bad spelling, clunky language, and offers that are just too good to be true. But every now and then, something pops up that’s much more convincing. 

We want to share a recent example from within the Financial Advice world that almost caught someone out. Don’t worry, no Penguin clients were involved — but it’s the kind of thing that could happen to anyone. 

Here’s what happened: 

A client received an email that looked exactly like it had come from their Adviser. It referenced a recent holiday, talked about the new Tax year, and suggested topping up their ISA with £20,000. All very normal. All very sensible. 

The email tone matched the Adviser’s usual style, the signature looked right, and even the sender’s email address appeared legitimate. A few messages went back and forth until the client was asked to transfer money to a company called “Alpha Trading.” 

Fortunately, the client’s bank thought something didn’t feel right and stopped the payment. That prompted a quick phone call to the real Adviser and the scam was exposed. 

The email wasn’t from the Adviser at all. It was a spoof — a fake email designed to look real. No data was stolen, and no systems were hacked. It’s likely the fraudster gained access to the client’s personal email account, found old messages, and copied the style. Possibly with the help of AI. 

Why are we telling you this? 

Because this was smart. It was subtle. And it very nearly worked. And while we have secure systems in place at Penguin, human instinct is still the best line of defence. 

We’re not trying to worry you but we do want to keep you one step ahead. If anything ever feels off, a quick call to the office can give you peace of mind. Remember, we’re always here to help.