Popular Scams And Methods

Fraud or scam?

In everyday use, the words fraud and scams are used interchangeably. However, we think it’s useful to use clear definitions.

Fraud happens to you, scams happen with you.

Examples of fraud would be having your card skimmed, identity theft and computer malware which steals your details. In these cases, you’re not aware of what the criminals are doing and haven’t given your authorisation.

Examples of scams would be where a criminal attempts to convince you to send them money, give away access to your bank details or launder money. Scams actively involve you as the account owner and work though engineering a situation to make you believe it’s genuine, so you give your authorisation

Remote access scams attempt to convince you to allow them access to your Online Banking. These are often cold calls from scammers who say that they’re from telecommunication or computer companies or (for businesses in particular) an IT department or Technical Support.

Some Common Scams Are mentioned below

Remote access scams

* a cold-caller says they can fix your slow computer or refund you money

* an unexpected call from someone claiming to be from your IT department or Tech Support

* the caller asks you to give permission for them to remotely access your computer

* the caller asks for your banking or personal details.

* These callers will ask you to log on to your Online Banking, to check it’s not been impacted by the fault, and then attempt to

* remotely access the computer to ‘help’ you with the problem.

Insurance / warranty scams

If you buy or own a product like a mobile phone, satellite TV box or home appliance, you might consider insuring it in case it gets damaged or lost.

This sort of insurance should cover you for the repair or replacement of the product, with parts and labour costs often included.

However, some fraudulent firms take payments from customers but don’t arrange the insurance as agreed. This could leave you with little or no protection. Some other companies contact people to sell, promote or advise on insurance without our authorisation.

Number spoofing

A similar scam uses a tactic known as ‘number-spoofing’.

If your phone (mobile or landline) allows you to see the ‘caller ID’, it will show the number fraudsters are calling from, or it will say the number is withheld.

However, fraudsters may be able to change the number displayed on your phone to suggest they are calling from a genuine bank. They will then try to trick you into revealing information about your account.

You should also be wary of text messages to your mobile phone that encourage you to visit a specific website. It might seem genuine but it could turn out to be fake.

Fraudsters will try to get you to:

give them your account details (especially if they already have some of them)

transfer money to another bank account

hand over your cash or card to them via courier

Please call us if you are contacted by a scammer.