BlueCrest warns of recruitment scam as candidates chase its jobs paying £468k

BlueCrest, the family office belonging to Mike Platt, pays its 278 or so London employees very well. In 2023, the average person at BC Capital Management Services Ltd, its cryptically named London office, earned £468k ($600k), excluding pension contributions. However, as candidates rush to apply for its jobs, BlueCrest says nefarious recruiters are seeking to profit. 

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BlueCrest has issued a warning cautioning against a website "Rekruite" which it says is advertising fake positions with the fund and then making offers to candidates. People who receive the offers are asked to make payments relating to immigration processes.

BlueCrests's warning comes after hedge funds and banks were struck by similar scams a few years ago. Point72 and BlueBay both warned of scam recruiters in 2017. During the same year, Morgan Stanley cautioned that its candidates were being duped into attending fake interviews on Google Hangouts. 

A junior trader who applied to a fake BlueCrest job says he was trying to get a role as a futures trader. They invited him for an interview and sent him a 21 questions skills assessment. "I was asked about my career and my knowledge of financial markets," he says. It was only when they tried to charge him $300 that he realized there might be a problem. 

Another candidate tells us recruitment scams are getting increasingly sophisticated. He says he received an identity verification link from a recruiter who turned out to be fake after applying for a job with a bank. Clicking on that link ultimately led to someone attempting to steal his identity. He has the following advice for avoiding similar scams:

Red flags to watch out for:

1. Unsolicited contact: Did you actively apply for the position? Be wary of unsolicited recruitment messages, especially via WhatsApp.
2. Phishing links: Never provide personal details or perform facial recognition through unverified links.
3. Urgent requests: Legitimate recruiters understand the importance of verification, but they shouldn't pressure you into immediate action.

How to protect yourself:

1. Research the company: Check the recruiter's credentials and the company's website. A genuine recruiter will be easy to find.
2. Verify contact information: Contact the company directly through verified channels (phone number or email address listed on their website) to confirm the recruiter's legitimacy.
3. Never share confidential information: Legitimate recruiters shouldn't ask for passport details, facial recognition, or PIN codes.

BlueCrest, meanwhile, is indicating that it won't be able to honour any of the jobs offered by the fake recruiters (unsurprisingly). Presumably it won't be refunding any of the money either. 

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