Online Banking Scam

These scams come in various forms, with a few common examples described below:

Payment Card Fraud

Payment card fraud involves stealing your credit or debit card details. This can happen through the theft of the card itself or the sensitive information on it. This could occur when you are not present at the time of the transaction, such as when making an online purchase, or if the card is out of your sight, like in a restaurant. Scammers might trick you into providing your card information by pretending to be a trusted organization or illegally copy the information from the magnetic strip to create a cloned card.

Credit and debit cards each have their advantages and are suited for different situations. Credit cards typically offer higher protection levels, especially if something goes wrong with a purchase or if your card details are used fraudulently. While many debit card providers are starting to offer some form of protection for purchases, there is no legal obligation for them to do so.

Mobile Payment Security

Mobile payment options, such as using your smartphone, tablet, or smartwatch, allow for contactless payments. Unlike debit or credit cards, you can make payments over £45 with these devices (though you must enter your PIN for transactions over £45). While using a smart device may be more convenient, it also comes with additional security risks.

Phishing Scams

Phishing scams involve scammers attempting to obtain your private, sensitive information, such as usernames, passwords, PINs, credit card details, and sometimes money, by pretending to be from your bank or another financial institution, a company you regularly do business with, or a social networking site. They may contact you via email, web page, text message, or phone call, providing a reason why they need this information. Often, they claim there is a problem with your account, and to increase the chances of a response, the message may imply a sense of urgency or an immediate risk to your account or card if you fail to answer.

Phishing emails often include official-looking logos and convincing details about your personal history, which the scammers might have found on your social networking pages. These emails may also contain links to spoofed or cloned websites that appear to be the genuine site of your financial institution, asking you to enter personal information.

Recovery Assistance

If you have been scammed, our recovery experts can help you reclaim your lost funds.