Scammers are using a string of ingenious fraud schemes to fleece bank customers out of their money. It seems that they are capable of scamming anyone who is not willing to ensure that telephone calls, emails or letters they receive are genuine.  Bank customers are losing millions of pounds to the scammers who use various means which are very difficult to identify as a scam. 

Some things you should be aware of;

  1. They pretend to be your bank or the police and convince the victim to make a payment by claiming there has been a fraud on the victims account and they will need to transfer their money to a new or safe account to protect their funds taking control over the victims account. Or they pretend to be the police asking the victim to participate in an undercover activity, so they can control the finances of the victim.
  2. Invoice payments to a client can be intercepted to convince the victim to redirect the payment to the fraudsters account. Can be done by interrupting emails or posing as suppliers or conveyancing solicitors.
  3. Sometimes purchases can be made paid for and the goods never arrive. Often these scams are from an on-line platform such as a auction web site.
  4. Convincing a victim to pay an advance fee, which would release a much larger reward or payment to a third party or the victim.
  5. Victims are sometimes persuaded to move their money to an investment with higher returns involving land, gold, property, carbon credits, wine or any type of investment fund.
  6. They pose as organisations such as utility companies, and other official providers, and get the victim to pay a fictitious fine or erroneous refund
  7. They manipulate the use of invoices, they promise purchases that never arrive, they promise advance payments if the victim provides advance fee, they promise to move investment money, offer scam investments and some are even the victim of false romances. Sometimes gain remote access to the victim’s computer and its data.
  8. Finally the romantic love affair that is developed over time to convince the victim to make multiple payments to help the so-called lover in some way.

Be aware, of phone calls, emails and letters using these verify convincing fraud methods. Contact your bank with your own telephone or emails to check before you engage in anything like this. Do not use the contact details given to you by the would-be fraudster.  If you have anyone asking for payment make sure you check independently to find out if it is genuine.

Check with your elderly or vulnerable relatives to see if they may be subject of fraud and advise them not to get involved.