READ UP ON CONS SO YOU CAN AVOID IMPERSONATION CRIME

Scams involving impersonation are big business for crooks – £134million was stolen using this method last year. A big chunk – £84.1m – of this total was lost to scams where thieves impersonated banks or the police, a 49% increase on the previous year.

Meanwhile, £50.2m was nicked by thieves impersonating bill providers or government departments.

Latest figures show £7m has been lost through Covid-19-related scams in the last few months.

Det Chief Insp Gary Robinson, head of the Dedicated Card and Payment Crime Unit, says: “Criminals are cynically preying on those with financial concerns at this time of national crisis. They are experts at impersonating other organisations, whether it’s your bank, mobile phone network or a government department.

“For these criminals it is a full-time profession, they might spend weeks researching you but only need you to let your guard down for a minute. It’s like actors rehearsing for a play, everything they do is designed to make them sound genuine and convince you to make a payment or give away your personal and financial details.”

The banking industry is doing its best to try and stop crooks in their tracks but we all need to be on our guard as criminals change tactics.

Katy Worobec, managing director of economic crime at industry body UK Finance, says: “The banking industry is constantly sharing intelligence between banks and with law enforcement to help detect coronavirus scams and the gangs responsible. It’s vital we work together to beat them.”

We’ve teamed up with UK Finance and Chief Insp Robinson to reveal the latest scams and help you keep safe.

Roy received a call from someone claiming to be from his bank’s fraud team enquiring about suspicious payments on his account which he didn’t recognise. He was told his account had been compromised and he urgently needed to move money into a ‘safe’ account to protect it. Roy did, and transferred his entire savings into an account which actually belonged to the criminal.

TIP 1: A bank or other financial firm would never ask you to move money to a safe account.

TIP 2: If you believe you’ve fallen for a scam, contact your bank immediately on a number you know to be correct – the one on your statement, its website, or the back of your debit or credit card.

Leanne was called by an ‘employee’ from her broadband provider who said her internet router had been hacked. The caller asked for remote access to Leanne’s computer and said she would receive £500 as compensation.

Leanne provided her bank details and was told to log onto her online banking to check the money had been received. However, £5,000, not £500, was deposited and she was asked to refund the overpayment to another account. By then, the criminal had taken control of all her accounts and the ‘£5,000’ deposit was in fact money moved from Leanne’s other accounts.

TIP: Don’t give someone remote access to your computer. Call the official number of the organisation to check if the original caller is genuine. Never log on to online banking while someone has access to your machine.

Damon was contacted by a ‘police officer’ claiming that staff at his local bank branch were issuing counterfeit notes and his assistance was needed in an undercover operation.

He was told to make a large withdrawal from his account and to hand it over to the police for ‘analysis’. He was told he would receive his money back after the investigation.

Once Damon’s money was handed over, the ‘police officer’ disappeared.

We’ve teamed up with Andrew Tully, technical expert at financial giant Canada Life, to answer some of your recent pension questions.

Is my annuity payment secure if my provider goes bust?

In the unlikely event your provider did go bust, the good news is any annuity payments are 100% protected by the Financial Services Compensation Scheme. Which means your lifetime income will continue to be paid.

TIP: The police would not contact you to ask you to take money out of your account for an undercover inquiry.

Sam received an email from a government department, informing him he could claim financial help if he clicked on a link. When Sam clicked the link, he was directed to a fake website designed to look like that of the genuine organisation, but which was actually collecting his personal and financial information. Sam failed to receive a payment and was also unaware that his computer was infected with malware after clicking on the link.

TIP 1: If you receive an email, text or WhatsApp message purporting to be

QWill my state pension benefits be affected by the current stock market turmoil?

The short answer is no. The state pension for people currently receiving it is paid for by the national insurance contributions of anyone of working age. There’s been some recent speculation that the government may look at how the state pension is uprated in the future – the so-called triple lock – and it may become less generous. It is also possible we may see the state pension age rise again in a move to help balance the nation’s finances.

Afrom the Government, HMRC, the World Health Organisation or a coronavirus-related charity, take a moment to think before you part with your money or information.

TIP 2: Never click on links or download attachments as criminals may infect your devices with malware or ask you to enter your personal or financial information into fake websites. In some cases this can lead to your identity being stolen.

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Caller said he needed remote access to Leanne’s computer and offered £500

Leon thought he was buying face masks and hand sanitisers that were sold out everywhere else. However, after completing his purchase, he failed to receive his order and his money was lost.

TIP: If you receive a call offering you protective face masks, hand sanitiser, testing kits, medicine or miracle cures,