'Beware what information you give out over the phone' is the stark warning to Isle of Man residents from the Office of Fair Trading.

It follows a recent incident in which a Manx woman received a call purporting to be from a claims recovery service, offering to get back money she had spent on her insurance policy, for a fee.

The woman refused to give out her details and after hanging-up contacted her bank, which told her the call was probably bogus.

Chairman of the Office of Fair Trading Bill Henderson, MHK, says the woman did the right thing.

He says once scammers have got hold of personal information it can be easy for them to set up fradulent transactions, and is strongly advising all consumers to be very protective of their financial details.

The OFT says nobody should feel obliged to give out any such information or even to continue a conversation if they become suspicious.

There is also no obligation to make any sort of immediate decision and there is a reminder that legitimate businesses appreciate careful customers and wouldn't pressure people into taking action they might later regret.