5 types of scams that you should watch out for!

5 Types of Scams you Should Watch out for!

Scammers are always finding new ways to deceive people using sophisticated tricks to steal personal information and manipulate victims into handing over their money. We have given a breakdown on 5 types of common scams that you should look out for. Here is how to spot them and how you can protect yourself:

1) Impersonation Scam

This type of scam is when the scammer pretends to be a trusted organisation or person such as bank, company or friends and family to trick the victim into sending money or revealing personal details.

How to spot an impersonation scam:

·         You receive a call, text, email or DM with an urgent request for your personal or financial information, to make a payment or move money.

·         You receive a call, text or email from your Bank to transfer money to another account for ‘safe keeping’.

You receive a message from a friend or family member requesting financial assistance often with an urgent reason such as them being stranded overseas or requiring medical help.

How to protect yourself:

·         Your Bank will never ask you to transfer money to a safe account or ask for your full PIN, password or passcode.

·         Contact your Bank or organisation using their contact details on a known email or phone number. You can find this information on previous correspondence from your Bank or organisation or by visiting their official website. Never share your personal information over the phone.

2) Romance Scam

Romance scams involve people being duped into sending money to criminals who go to great lengths to gain their trust and convince them that they are in a genuine relationship. These relationships are typically made through social media or dating apps. They use language to manipulate, persuade and exploit so that requests for money do not raise alarm bells.

How to spot a romance scam:

They profess love quickly, avoid video calls, and always come up with reasons as to why they cannot meet in person. They ask for financial help due to an emergency. These requests might be highly emotive, such as criminals claiming they need money for urgent medical care.

How to protect yourself:

·         Do not share your personal information on social media or dating platforms.

·         Be suspicious of any requests for money from someone you have never met in person, particularly if you have only recently met online.

·         Never send money to someone you have met online or on behalf of someone.

3) Phishing Scam

This is when criminals use scam emails, texts, or calls pretending to be a trusted organisation and encouraging you to visit a website and click on a link which may download a virus onto your computer, or steal bank details or other personal information.

How to spot a phishing scam:

Criminals often use email addresses or website links that slightly mimic real ones. Additionally, they will use language that creates a sense of urgency or fear pressuring to act quickly by clicking a link providing personal information, or downloading an attachment..

Look out for suspiciously written emails or text messages with links, attachments, unrecognisable email addresses filled with random letters, numbers, or spelling mistakes.

How to protect yourself:

·         Never click on links or attachments from suspicious emails. Always hover over links to check their legitimacy before clicking.

·         Do not share any personal information.

·         If you receive a suspicious message, contact the company directly using official contact details from their website.

4) Authorised Push Payment scam (APP)

Authorised Push Payment fraud happens when someone is tricked into sending money to a fraudster posing as a genuine payee. This can happen through any of the fraud tactics mentioned above.

How to spot APP Fraud:

You may receive unexpected phone calls, emails, or messages asking you to transfer money, provide personal details, update payment information or transfer funds to a “new” account for security purposes.

You are asked to make a payment that is much larger than a usual invoice amount.

Fraudsters will sent emails or messages in regards to financial winnings from a competition you did not enter.

How to protect yourself:

·         Do not feel pressured into making a decision quickly. Take a moment to think and question requests that seem unusual.

·         If you are making a large payment, double-check the recipient's account details to ensure that they are genuine.

5) Debit card Fraud

This type of scam is when scammers steal your debit card details to make unauthorised bank transactions. This can be done by tricking you to enter your details on a fake website or cloning your card using a modified card reader.

How to spot Debit Card fraud:

You notice transactions that on your bank statement that you did not undertake.

How to protect yourself:

·         Never share your card details with anyone.

·         Use only secure payment methods.

·         Enable SMS transaction alerts on your mobile phone so you know when a transaction has been made on your account.

If you believe you have been a victim of fraud, we strongly advise you to report it immediately to Action Fraud at www.actionfraud.police.uk or call 0300 123 2040 for further assistance.