In the olden days, the main way for anyone to commit crime was by either climbing through your window and running off with the silver, or robbing gold bullion from a train.
Today though, financial crime has become a lot more sophisticated, as criminals target the internet and use the phone to get hold of your personal details. Online banking fraud alone, increased to £59.7 million last year; double what is was in 2007.
Because new scams appear all the time, it’s important to know what the latest ones are. So we’ve outlined a few ways to make sure you’re aware of the most recent scams, ranging from the very simple to the particularly cunning, to help you outwit the swindlers.
Bank charge reclaiming
If you receive a phone call out of the blue offering to reclaim your bank charges for you – don’t do it. These scammers may claim they are from the Office of Fair Trading, to get you to give away your personal financial details. They then use your details to commit theft with your credit card and bank details. The OFT would never contact anyone in this way – so make sure you’re not caught out.
The Visa/Mastercard scam
This scam can seem very plausible unfortunately. You are contacted by someone claiming to be from the Security and Fraud department of Mastercard or Visa. They then ask you if you have made a particular purchase, which is normally just under £500. (which is the amount that normally alerts your bank to unusual spending) When you say no, the caller tells you that they must start a fraud investigation, and asks you to confirm your address. They will then ask you if you are in possession of your card, and ask you to read the security numbers on the back of your card out to them. They will claim they need this to issue a full refund, but really, once they have those three numbers, they can spend on the internet.
You won’t realise what has happened until you get your next statement, and by this time it will be more difficult to file a fraud report. Real credit card companies will never take your bank details, because they already have them.
Bank Detail Virus
BBC news recently reported that a network of thousands of computers are ‘harvesting’ bank details from all over the UK. Cyber criminals in Eastern Europe are gathering bank log-in details, passwords and card numbers by infecting personal computers with a Trojan virus called Zeus. The computer becomes infected by the user clicking on a link within a spam email, or visiting an infected website. The computer is then under the control of the criminals who can sign in and transfer money to themselves. To protect yourself, make sure you are not being asked for any unusual further details when you sign in and to look out for any changes in your bank log-in procedure.
Holiday Scam Websites
You would think that booking a holiday would be a scam free experience, but BBC news has also reported the growing number of scams targeting people planning a holiday. Bogus websites have been set up, which pretend to be legitimate travel operators in order to get hold of credit card details. Bogus sites are also sometimes linked with authentic travel operators. Check that online firms have a proper address and contact details, and are members of a Trade Association such as the Association of British Travel Agents, often referred to as ABTA.
The Microsoft Lottery Scam
Lottery fraud is big business. You’re told you have ‘won’ a lottery you have no memory of entering, and are then asked for an advance fee to ‘claim your winnings.’ These scammers use well known names to make them seem legitimate – and the latest victim of this is Microsoft. So if Microsoft have sent you an email saying you have won a fortune – steer clear! You so haven’t!
If you are ever in doubt, remember that if something sounds too good to be true – it probably is.
Get Safe Online has lots of details about making sure your personal information stays personal, so check them out.
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