Sophisticated fraud gangs use a whole range of techniques to convince us to part with our money and our personal details. It’s all too easy to fall into a fraudster’s trap, even when you think you’re doing the right things – they’re very convincing.
Fraudsters’ techniques change frequently as they attempt to exploit each new payment system, to find chinks in the armour. We’re seeing a significant increase in phishing and smishing attacks, often through very convincing emails and fake websites set up deliberately to convince you to divulge your personal details.
The fraudsters gather information in a range of ways. These could include, but are not limited to, hacking your email and social sites, ‘harvesting’ data by stealing information from websites or taking it directly from your computer through ‘malware’ – malicious software placed on your computer to track your personal information.
Fraud has a huge impact on customers in terms of stress, worry and time taken to sort out the problems it leaves in its wake. Across the UK £38bn was lost to fraud in 2012 across all industries, and while banks are a very small part of that, we’re working day and night to combat it – profiling transactions and implementing new security measures.