Fraud victims hit twice after ‘sucker lists’ containing details sold on by gangs, warns banking boss
VICTIMS of bank scams may end up on “suckers’ lists” which are sold on by criminals, according to TSB – meaning they could be targeted more than once. These lists of people who have previously been conned include their personal and financial information. They are circulated between organised crime groups and can be bought on […]
VICTIMS of bank scams may end up on “suckers’ lists” which are sold on by criminals, according to TSB – meaning they could be targeted more than once.
These lists of people who have previously been conned include their personal and financial information.
They are circulated between organised crime groups and can be bought on the dark web.
The lists are one reason why the epidemic of bank fraud sweeping the UK requires a stronger national response, according to TSB’s head of fraud.
Ashley Hart told The Sun that the growing problem is being fuelled by crime gangs that are hiring scammers to steal money for them in a bid to raise funds.
Mr Hart said: “Bank fraud is modern day robbery and has become the crime of our generation.
HOW TO BEAT SCAMMERS
THERE are many ways you can protect yourself from potential fraud, according to TSB.
Here are some of the bank’s top tips:
- Watch out for requests to move money – A genuine bank or organisation will never contact you out of the blue to ask for your PIN, full password or to move money to another account.
- Beware of 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.
- Look after your personal info – Always question uninvited approaches in case it’s a scam. Instead, contact the company directly using a known email or phone number.
- Be aware of fraudsters’ methods – Fraudsters are good actors. They’ll play out a situation which will get you worried so you take part. They might offer something as straightforward as improving your broadband speed or applying security fixes to your wifi. They might tell you that your money is in danger of being stolen. Be on your guard.
- Take the initiative – Remember, you’re responsible for checking your statements, text messages or other account information we give you. So if you spot something you don’t recognise or think you’ve been a victim of fraud, don’t panic. Get in touch with your bank straight away and contact Action Fraud.
“It is funding other crimes, and needs to be tackled with a stronger response on a national level.”
Thirteen organised crime groups were disrupted in first half of 2019, double the number in same period last year, banking trade body UK Finance found.
During the same period, bank victims lost £207.5million – more than £1.1million a day. But only £39.3million was refunded.
To tackle the problem, Mr Hart wants more funding for police forces, better training for detectives, more support for the National Fraud Intelligence Bureau – and more support for victims.
But Mr Hart adds that the best way for people to protect themselves from being scammed in the first place is to simply hang up if they have any doubts about a caller attempting to extract personal details.
Fraudsters typically harvest bank details from customers using “phishing” or “smishing” – sending fraudulent emails and text messages respectively.
These appear to be from a bank or other official organisation but trick you into sharing sensitive information.
Scammers also probe bank defences and use data breaches to get information.
Sim swap frauds are also on the rise. In the hands of fraudsters, a sim swap can be a way to take over the customer’s mobile number.
In April, TSB announced a Fraud Refund Guarantee to ensure the bank’s 5.2million customers are protected if they are an innocent victim of fraud – whether it’s through unauthorised transactions on their accounts or by being tricked into authorising payments to fraudsters.
Business owner Andrew Sykes nearly lost his livelihood after falling victim to scammers who stole £13,000.
But other banks have been slammed for refusing to hand back millions to fraud victims – despite a new code of practice taking force in May.
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