Help prevent fraud
‘Smishing’ involves fraudsters sending a text message claiming to be from a customer’s bank. Often the text message will appear to come from the bank's own fraud department. The message may make specific reference to a payment, and ask the recipient to call a number to confirm that the payment is genuine.
Fraudsters can make the fraudulent message even more realistic by making it appear as part of an existing flow of messages that have already come from the recipient’s bank.
‘Vishing’ involves a phone call from a fraudster who will come up with a plausible story to try to get you to share your information.
For example, the fraudster may say they’re from a satellite TV provider, phone or utility company and offer you a refund. To process the refund, they'll ask you for authorisation codes. They'll then try to use the codes to make fraudulent Online Banking payments from your account.
Fraudsters also call pretending they’re the bank or the police and tell you there’s a problem with your debit or credit card. They may ask you to key your card PIN into the phone and tell you they are sending a courier to collect your card. Alternatively, they may ask you to withdraw funds or buy high-value items and hand them to a courier to help in an investigation, or even try to convince you to transfer funds to a new ‘safe’ account.
‘Phishing’ is where fraudsters send you emails or texts, often appearing to be from your bank, asking you to reply with your security information or click on a link, where they can then access your details.
Text messages may ask you to call a number claiming to be the bank’s fraud department, but the number is often a premium rate number and connects you to a fraudster.
Fraudsters may also send a text warning that you’ll soon receive a call from the bank’s fraud department. However, it’s actually the fraudster that calls and tries to get your security information. To make the texts seem authentic, fraudsters use special software that changes the sender ID on a message, so that you see the name of your bank as the sender. This can mean the text shows within an existing text message thread from your bank.
Protect yourself and your privacy
Don’t assume that anyone who sends a text or calls you is who they say they are.
If in doubt – check the message you have received is genuine by contacting your bank direct using the normal number you use, or the number on the back of your card.
Never give out your online security information, even if you are told it’s needed to stop a payment going out.
Never phone a number in a text, unless it’s a number you know.
Posted: Tue 26 Sep 2017
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