The banks have launched a campaign to help you fight against fraud. Here’s Anthony Browne, chief exec of the British Bankers Association (BBA), to share the eight things banks would never say or do.
Being robbed is always a devastating experience. Increasingly though, reports are telling us that robberies and many other types of crime are on the decline. Criminals have resorted to a number of other tactics to steal from their customers.
Fraud is on the rise, and fraudsters have thought of many clever ways to con money from unsuspecting people. Often they will pose as a bank on the phone and convince a customer to hand over personal details. On other occasions they fake an official looking email with a bogus link that allows them to raid a bank account if clicked. Sometimes they are even bold enough to visit a customer’s home.
Banks see the pain this deceit causes – both financial and personal. Yet, while we all know how we can protect ourselves from household robbery, far fewer of us know the signs of fraud or how to protect ourselves from it.
Banks campaign against fraud
That is why the banks have launched a new public campaign and leaflet called ‘Know Fraud, No Fraud’. If people know fraud then no fraud can be committed against them. At the core of the campaign are some vital tips to help ordinary bank customers spot the difference between a genuine communication from their bank and an approach from a fraudster.
The leaflet sets out eight things a bank would never say or do that are typical of the methods used by scammers. Your bank would never:
1. Ask for your full PIN number or any online banking passwords over the phone or via email.
2. Send someone to your home to collect cash, bank cards or anything else.
3. Ask you to email or text personal or banking information.
4. Send an email with a link to a page which asks you to enter your online banking log-in details.
5. Ask you to authorise the transfer of funds to a new account or hand over cash.
6. Call to advise you to buy diamonds, land or other commodities.
7. Ask you to carry out a test transaction online.
8. Provide banking services through any mobile apps other than the bank’s official apps.
Don’t get caught out
Here’s just one real life example of someone who was drawn in by the clever tactics of these determined thieves.
Brian, a former civil servant: He was called by a persuasive man claiming to be a broker for a Japanese company selling shares. Brian was sceptical at first but a slick, professional looking website with a Japanese contact number convinced him to invest around £350,000. When Brian’s family became aware they contacted the police who could prove the man had operated other websites offering fraudulent investment deals, confirming suspicions that Brian had become this criminal’s latest victim.
The banks spend millions every year protecting customers using IT and intelligence, but we also want to make sure that customers are aware of the crime around them and that they know what they can do themselves to stop it happening.
Have you or someone you know been a victim of fraud? Have you spotted something suspicious?
Which? Conversation provides guest spots to external contributors. This is from Anthony Browne, chief exec of the British Bankers Association (BBA). All opinions expressed here are Anthony’s own, not necessarily those of Which?. The Know Fraud, No Fraud leaflet is available online, and will also be in banks and police stations up and down the country.