Would you SPOT A SCAM?

Fraud­sters are get­ting more cun­ning, so wise up to how they op­er­ate and stay one step ahead to pro­tect your money

TV & Satellite Week - - Take Five -

MOST OF US THINK WE KNOW how to avoid the traps of fi­nan­cial fraud, like never giv­ing out a PIN or full pass­word, or feel­ing pres­sured into mak­ing a de­ci­sion. The trou­ble is, in the heat of the mo­ment, it’s easy to for­get those things. If a caller says they’re from your bank or an or­gan­i­sa­tion you know, your in­stinct is to trust them. But this sce­nario shows how scam­mers can trick you.

IT’S AN EMER­GENCY

You’re in a rush to pick up the kids from school when your phone buzzes. You al­most leave it to go to voice­mail, but thank good­ness you pick up. It’s a woman from your bank, and she sounds gen­uinely con­cerned.

‘I’m afraid there has been some fraud­u­lent ac­tiv­ity on your ac­count,’ she says quickly. ‘It’s im­por­tant that you work with us, to make sure you don’t lose money.’

You’re shocked and dis­mayed by this news – but in­stinct warns you to be cau­tious.

‘How do I know this is a gen­uine call?’ you ask.

The woman says you’re right to SOME­ONE BE­COMES A VIC­TIM OF FI­NAN­CIAL FRAUD EV­ERY 15 SEC­ONDS, WITH £2 MIL­LION LOST EV­ERY DAY IN THE UK.* TAKE FIVE TO STOP FRAUD IS THE NA­TIONAL CAM­PAIGN FROM FI­NAN­CIAL FRAUD AC­TION UK AND THE UK GOVERN­MENT, BACKED BY THE BANK­ING IN­DUS­TRY. IT’S URG­ING EV­ERY­ONE TO STAND UP TO SCAM­MERS BY QUES­TION­ING ALL AT­TEMPTS AT GET­TING IN­FOR­MA­TION OR MONEY OUT OF YOU.

IF YOU ARE AP­PROACHED FOR PER­SONAL OR FI­NAN­CIAL DE­TAILS, WHETHER IN PER­SON, BY EMAIL OR ON THE PHONE, AL­WAYS STOP, TAKE FIVE TO THINK, THEN SAY,

My money? My info? I don’t think so! ques­tion her. She has your bank ac­count number and your full ad­dress. Re­as­sured, you agree to fol­low her in­struc­tions.

She says the bank can pro­tect your money straight away – all you need to do is move it to a new, safe ac­count. Bet­ter still, she’s al­ready set it up for you in readi­ness.

‘Once it’s moved, the fraud­sters won’t have ac­cess to your ac­count,’ she ex­plains.

MONEY ON THE MOVE

Hastily you shift your en­tire bal­ance out of your usual ac­count and into the new one.

It’s a re­lief – at least you know your money is safe again.

Fi­nally, you thank the woman from the bank for all her help, hang up, and rush out to get to the school gates on time.

But later, you’re feel­ing un­easy about that call from the bank, and de­cide to ring them to check. Your qualms are fully jus­ti­fied – your bank con­firms it was a scam. You’ve be­come a vic­tim of fraud.

‘My money? My info?

I don’t think so!’

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