Beware the APPalling rise in ruthless hacking scams
SCAMMERS are getting more cunning and ruthless by the day with more than half of us struggling to spot the signs, while bigger sums than ever are at stake.
Authorised push payment (APP) fraud is a growing menace, where hackers pose as a genuine payee and trick victims into sending money to their bank account.
Examples include scammers hacking conveyancing solicitors’ emails, and persuading property buyers to send their deposits to them.
Almost half of victims feel at risk of falling for the scam again, with many wary of making more digital payments, research from Visa shows.
It said APP fraud is now “rife” and it is calling for renewed prevention efforts to stop fraud at source, including using artificial intelligence.
Visa UK and Ireland managing director Mandy Lamb said falling victim can be “incredibly distressing” and “can have a devastating impact on people’s ability to manage their finances, even when they get their money back”.
As it gets harder to differentiate between legitimate organisations and scammers, anyone with suspicions should check by using a different form of communication to the one they were originally contacted on. For example, if you get a text asking for bank details, phone the company to check if it’s a valid request.
Be wary of cold calls or unexpected emails. It is unusual for legitimate organisations to ask for sensitive or personal information without warning.
Take time to consider whether a payee is genuine and never feel pressured to rush a payment. If unsure, talk to someone you trust.
If you fall victim, report it to Action Fraud and contact Victim Support.