Protecting yourself from Fraud

Fraudsters are constantly looking at new ways to scam the public out of money with many using current events and circumstances to their advantage

These fraudsters often pretend to be from banks, building societies or other trusted organisations, to exploit and persuade people to provide personal information that will allow them to access their private bank accounts.

Scams like these are unfortunately costing people millions of pounds each year, with new scams being uncovered on a regular basis, however there are ways we can fight the scammers to prevent it happening.

At The Loughborough keeping your personal and financial information safe is the utmost priority for us and we have measures in place that will help protect you from attempted fraudulent activities.

As well as the measures we have in place, there are steps you can take too.

Take Five, a national campaign set up by the government, has outlined the following advice which can help you avoid becoming a victim of financial fraud:

Requests to move money:

A genuine building society, bank or other trusted organisation will never contact you out of the blue to ask for your PIN, full password or to move money to another account. Only give out your personal or financial details to use a service that you have given your consent to, that you trust and that you’re expecting to be contacted by.

Clicking on links/files:

Don’t be tricked into giving a fraudster access to your personal or financial details. Never automatically click on a link in an unexpected email or text.

Personal information:

Always question uninvited approaches in case of a scam. Instead, contact the company directly using a known email or phone number.

Don’t assume an email or phone call is authentic

Just because someone knows your basic details (such as your name and address or even your mother’s maiden name), it doesn’t mean they are genuine. Be mindful of who you trust – criminals may try to trick you into their confidence by telling you that you’ve been a victim of fraud. Criminals often use this to draw you into the conversation, to scare you into acting and revealing security details. Remember, criminals can also make any telephone number appear on your phone handset so even if you recognise it or it seems authentic, don’t use it as verification they are genuine.

Don’t be rushed or pressured into making a decision

Under no circumstances would a genuine bank, building society or other trusted organisation force you to make a financial transaction on the spot; they would never ask you to transfer money into another account for fraud reasons. Remember to stop and take time to carefully consider your actions. A genuine building society, bank or other trusted organisation won’t rush you or mind waiting if you want time to think.

Listen to your instincts

If something feels wrong then it’s right to question it. Criminals may lull you into a false sense of security when you’re out and about or rely on your defences being down when you’re in the comfort of your own home. They may appear trustworthy, but they may not be who they claim to be.

Stay in control

Have the confidence to refuse unusual requests for personal or financial information. It’s easy to feel embarrassed when faced with unexpected or complex conversations. But it’s okay to stop the discussion if you don’t feel in control of it.

If you’ve taken all these steps and still feel uncomfortable or unsure about what you’re being asked, never hesitate to contact your building society or bank on a number you trust, such as the one listed on their website or on the back of your payment card.

Remember

Stop – Take a moment to think.

Challenge – Don’t be afraid to ask questions or to say “No” and end the conversation.

Protect – If you think you’ve been the victim of fraud, contact the building society or bank from which you’ve made the payment immediately

For more information on protecting yourself from fraudulent activities visit https://takefive-stopfraud.org.uk/