The protection insurance service is warning advisers and their staff to be vigilant to avoid being stung by fraudulent premium rate call backs for quotes or product information.
Fraudsters are targeting financial services industry firms using 070 numbers as many companies offer telephone call back.
Scammers can pocket around £1 per minute for calls back to their number and the scammers are sophisticated and will often target complex products so that they can extend the length of a call, the firm warned.
Neil McCarthy, sales & marketing director of LifeQuote, said: “As a large protection provider, we offer both advisers and their clients a call back service and have seen an increase in fraudulent requests.
“We have systems in place to highlight these numbers, but it is reasonable to assume that many insurance brokers, mortgage advisers, protection specialists and anyone else that offers a similar service will also be targeted, hence our warning to put similar procedures in place.”
