Banking Scams

Do you use online banking? If so, please read on.

A reminder made it's way into my secure inbox recently, from my bank offering me a warning about the rise in spoof messages from Fraudsters.

A worthwhile reminder which I'm passing on to you below. Don't be scared to use online banking, it's pretty safe, so long as you go direct to your bank's site rather than use links in any email, they can be faked.

Never rely on caller ID alone to authenticate a caller or a text message. Criminals can ‘spoof’ caller ID numbers, meaning you can’t be sure the number displayed on your phone belongs to the company it claims to be from.

The banking industry has seen an increase in so-called ‘smishing’ attacks (SMS/text phishing).
• Fraudsters send texts saying they’re from your bank and that they need you to update your details or speak with you urgently about a fraudulent transaction.
• The text normally contains a premium rate telephone number for you to call.
• The number it comes from looks like it belongs to your bank, even though it’s not being sent by your bank.

Your Bank will never ask you to disclose your One Time Passcode (OTP) verbally or to call us back on a premium rate telephone number.

If you do give out your personal and security details, you might provide a fraudster with everything they need to take money from your account. In this case, contact your bank directly using the details on your bank card, or their secure website if you don't have these details to hand, never use contact details, numbers or links from an email.