COMMON SCAMS
Scammers may use a variety of sophisticated techniques to try and trick you into parting with your money and anyone can be caught out. According to the National Fraud Intelligence Bureau, nearly a third of all fraud or scams are committed over the phone. However criminals use all kinds of techniques to reach their victims.
This type of scam is called 'phishing'. The sender attempts to trick you into giving out information like your bank account or credit card numbers and passwords.
PHONE
This type of scam is called 'vishing'. Someone may call you to ask for a payment or personal information like your bank details or PIN. Sometimes these scammers will know something about you and seem quite plausible.
SMS
This type of scam is called 'smishing'. Scammers will either text you asking for your bank details or encourage you to click on a link or call a phone number.
PURCHASE SCAMS
Scammers offer goods at ‘too good to be true’ prices.
IMPERSONATION SCAMS
Fraudsters will try all sorts of impersonation scams to try and extort money from their victims.
INVOICE SCAMS
Scammers pose as an organisation that you’re due to pay and tell you there’s been a change of bank account details. Instead of paying your bill, the money then goes direct to the criminal’s account.
SPOOFING
‘Spoofing’ phone numbers and email addresses so they appear genuine is one of the most common methods used by fraudsters to trick their victims.
ROMANCE SCAMS
Scammers fake romantic intentions and try to extort money.
ADVANCE FEE SCAMS
Criminals promise a share of a large sum of money, in return for up-front payments.
COURIER CARD SCAMS
Fraudsters pose as a courier sent from your bank or the police to trick you into handing over your debit or credit card and PIN.
OVERPAYMENT SCAMS
Scammers pay for goods or services using a fraudulent cheque which is made out for a higher amount than the actual value. The fraudster is then reimbursed for the alleged excess amount before the cheque is returned unpaid.
PENSION SCAMS
Fraudsters make unexpected offers like free pension reviews and pressure you into making a quick decision about changing your pension arrangements.
INVESTMENT SCAMS
Criminals ask you to send money for what appears to be a legitimate investment with a high rate of return.
PHISHING & SPEAR-PHISHING
Phishing is a method used by fraudsters to access valuable personal details, such as usernames and passwords which can either be exploited or sold on to other criminals.
Spear-phishing is a technique which involves criminals using personal information to earn trust and lower the intended victim’s defences, increasing the chances they may open attachments or embedded links.
FAKE EMAILS ABOUT PARCEL DELIVERIES
Clients are reporting money being stolen after they've responded to emails allegedly being sent from parcel delivery companies, like DPD or Royal Mail.
These fake emails are being sent by criminals pretending that additional information is needed to arrange a delivery. The aim is to trick you into clicking on a link and parting with your personal information. Once the criminals have this, they’ll call you pretending to be from your bank's fraud team and try and persuade you to move your money to a 'safe account' or give away your card reader codes.
Many variations of this scam exist. If you think you may have given away your details to a scammer, please contact us immediately - we can help.
ATM CARD TRAPPING FRAUD
Criminals may fit a device to an ATM card slot that stops your card from being returned to you. So they can make use of your card details, they may either watch you at the ATM or they may use a camera to obtain your PIN. Once you walk away, assuming that your card has been retained, the fraudster prises the device off and takes your card.
CRYPTOCURRENCY SCAMS
Scammers are capitalising on the headlines around cryptocurrency by offering fake investments that don’t really exist or which are worthless. They may do this by:
- Advertising investment opportunities on social media – sometimes using fake endorsements and images of celebrities or public figures. The adverts link to professional-looking websites to trick you into investing using cryptocurrencies or traditional currencies.
- Manipulating software to distort prices and investment returns and even scam people into buying non-existent crypto-assets. The firms operating these scams are usually based outside the UK but will claim to have a UK presence.
This type of scam is called 'phishing'. The sender attempts to trick you into giving out information like your bank account or credit card numbers and passwords.
PHONE
This type of scam is called 'vishing'. Someone may call you to ask for a payment or personal information like your bank details or PIN. Sometimes these scammers will know something about you and seem quite plausible.
SMS
This type of scam is called 'smishing'. Scammers will either text you asking for your bank details or encourage you to click on a link or call a phone number.
PURCHASE SCAMS
Scammers offer goods at ‘too good to be true’ prices.
IMPERSONATION SCAMS
Fraudsters will try all sorts of impersonation scams to try and extort money from their victims.
INVOICE SCAMS
Criminals pose as an organisation that you’re due to pay and tell you there’s been a change of bank account details. Instead of paying your bill, the money then goes direct to the criminal’s account.
SPOOFING
‘Spoofing’ phone numbers and email addresses so they appear genuine is one of the most common methods used by fraudsters to trick their victims.
ROMANCE SCAMS
Scammers fake romantic intentions and try to extort money.
ADVANCE FEE SCAMS
Fraudsters promise a share of a large sum of money, in return for up-front payments.
COURIER CARD SCAMS
Criminals pose as a courier sent from your bank or the police to trick you into handing over your debit or credit card and PIN.
OVERPAYMENT SCAMS
Scammers pay for goods or services using a fraudulent cheque which is made out for a higher amount than the actual value. The fraudster is then reimbursed for the alleged excess amount before the cheque is returned unpaid.
PENSION SCAMS
Fraudsters make unexpected offers like free pension reviews and pressure you into making a quick decision about changing your pension arrangements.
INVESTMENT SCAMS
Criminals ask you to send money for what appears to be a legitimate investment with a high rate of return.
PHISHING & SPEAR-PHISHING
Phishing is a method used by fraudsters to access valuable personal details, such as usernames and passwords which can either be exploited or sold on to other criminals.
Spear-phishing is a technique which involves criminals using personal information to earn trust and lower the intended victim’s defences, increasing the chances they may open attachments or embedded links.
FAKE EMAILS ABOUT PARCEL DELIVERIES
Clients are reporting money being stolen after they've responded to emails allegedly being sent from parcel delivery companies, like DPD or Royal Mail.
These fake emails are being sent by criminals pretending that additional information is needed to arrange a delivery. The aim is to trick you into clicking on a link and parting with your personal information. Once the criminals have this, they’ll call you pretending to be from your bank's fraud team and try and persuade you to move your money to a 'safe account' or give away your card reader codes.
Many variations of this scam exist. If you think you may have given away your details to a scammer, please contact us immediately - we can help.
ATM CARD TRAPPING FRAUD
Criminals may fit a device to an ATM card slot that stops your card from being returned to you. So they can make use of your card details, they may either watch you at the ATM or they may use a camera to obtain your PIN. Once you walk away, assuming that your card has been retained, the fraudster prises the device off and takes your card.
CRYPTOCURRENCY SCAMS
Scammers are capitalising on the headlines around cryptocurrency by offering fake investments that don’t really exist or which are worthless. They may do this by:
- Advertising investment opportunities on social media – sometimes using fake endorsements and images of celebrities or public figures. The adverts link to professional-looking websites to trick you into investing using cryptocurrencies or traditional currencies.
- Manipulating software to distort prices and investment returns and even scam people into buying non-existent crypto-assets. The firms operating these scams are usually based outside the UK but will claim to have a UK presence.
TELEPHONY FRAUD AND VISHING
- Fraudsters use many techniques to obtain password and security credentials. Vishing is when criminals attempt to obtain sensitive and personal information, such as usernames, passwords and card reader codes over the telephone.
- Often a fraudster will call the victim and claim to be a bank employee or a police official and ask for bank account details, card details, three-digit security numbers, PINs, online banking passcodes or telephone banking security passwords.
- Don’t assume anyone who has called you or left you a voicemail message is who they say they are.
- Never disclose online passcodes, security codes, PINs or card details to anyone who phones you. We will never, ever ask you for them by phone, text or email.
- Remember that caller display cannot always be trusted and callers may not be who they say they are. If in doubt, hang up and call us back on a number you recognise from a different phone.
- If you receive a call about your bank account or a transaction and have any doubts about the person’s true identity, hang up and call us on a known Coutts telephone number.
020 7957 2424 - Coutts 24
020 7770 0011 - Coutts fraud team
All calls with Coutts are recorded for training and monitoring purposes.
CHALLENGE WORD
This is an agreed word or phrase, so you know that a call from us is genuine. If you haven’t set up your challenge word already, simply contact your banker or speak to Coutts 24 on 020 7957 2424. They'll give you a form to complete to set up your challenge word. All calls with Coutts are recorded for training and monitoring purposes.
Setting up a challenge word acts as an extra layer of protection and helps reduce the chances of you becoming a victim to any scams and potential losses.
CARD FRAUD
HOW TO PROTECT YOURSELF AGAINST CARD FRAUD
- Always shield your PIN when using a cash machine or while making purchases.
- Try to use cash machines inside bank branches where possible.
- If your card is taken by a cash machine call Coutts 24 straight away. Your card may have been taken by a cash machine due to a fault but occasionally fraudsters will insert card trapping devices into cash machines. Once you leave the machine the fraudster will steal your card from the slot. Coutts 24 will cancel your card straight away, order your new card and endeavour to ensure that you have access to cash if needed.
- When purchasing online only use secure websites – those with an address beginning with ‘https://’ where the padlock symbol is displayed. Also be careful if the product is being offered at a huge discount.
- If you are experiencing any issue with your card, call Coutts 24. It may be that your card has been damaged or there is another reason why your card is not working as expected.
ONLINE VERIFICATION
We have introduced additional layers of security for your Coutts cards that will make online shopping less obtrusive but not less safe. The new service will also be easier to use as there is no need to register or remember a password.
Coutts Online Verification uses the latest technology to help protect you against fraud and confirm it is really you making an online payment with your Coutts cards. For more details on how this service works, please visit our dedicated page.
There's no need to sign up for a new card or to download any new software.
CHEQUE FRAUD
HOW TO PROTECT YOURSELF AGAINST CHEQUE FRAUD
- Don’t accept cheques from anyone unless you know and trust them, especially when of a high-value. Consider alternative means of accepting payment for high-value items – electronic payments are ideal.
- Be especially wary if the buyer is unwilling to pay or split the relatively small cost involved in sending electronic payments.
- Before releasing any goods, ensure you are fully aware of the cheque clearing timescales and, if you are in any doubt about whether a cheque has cleared, call Coutts 24.
- Keep your cheque book in a safe place and report any missing cheques immediately.
- If posting cheques consider confirming receipt with the beneficiary or send by secure post.
SCAMS INVOLVING CHEQUES
Counterfeit cheques are manufactured or printed on non-bank paper to look exactly like genuine cheques. Usually, the bank details quoted are correct. Fraudsters may send the cheque to you, or directly to the bank requesting that it be credited to your account without you ever seeing the physical cheque.
A common method used by fraudsters is known as ‘overpayment’. This is when you are paid for more than the agreed value using a fraudulent cheque. The fraudster will likely provide an excuse for the additional amount and request that the difference is sent back to them before the cheque has cleared, leaving you potentially out of pocket. This type of scam often targets businesses and individuals who buy and sell items online.
IDENTITY THEFT
HOW TO PROTECT YOURSELF AGAINST IDENTITY THEFT
- Never write down or divulge your security identification answers or passwords to anyone, unless you are certain that you are talking to a Coutts member of staff.
- If in doubt hang up and call us back on a known Coutts telephone number.
- If you provide us with new contact details, you will receive a call from our security team to validate the details.
- If you provide us with a payment instruction you may receive a security call back.
- Always securely store your banking, financial and valuable personal documents, such as your passport.
- Shred all financial documents before you throw them away, ideally with a cross-cut shredder.
- Be aware what personal information you share on social networking sites – i.e. your date of birth.
- A variety of ‘harmless’ communications in different formats can be combined to steal your identity or commit fraud.
If you are concerned about someone using your identity, here are some useful links:
CHECKING YOUR CREDIT FILE
FRAUD PREVENTION SERVICE
