Fraud scams

Latest Fraud Scam Information

In the first half of 2021 over £15 million was lost to romance scams.

This Valentine’s Day, UK Finance’s Take Five to Stop Fraud campaign and the Online Dating Association advise people on how to stay safe, including never sending money to someone you have only met on the internet.

Nearly 40 per cent of people looking for love, were asked for money by those they met online.

After meeting through dating sites, social media or gaming platforms under the guise of looking for a relationship, a criminal’s modus operandi will quickly change to persuading a victim to send them money.

Fraudsters will also often ask the victim to come off the dating platform where they first met and to use a different messaging service. This is to ensure that they can’t be so easily monitored or reported.

Of those that were asked to give or lend money by someone they met online, over half (57%) did so – putting them at risk of being a victim of a romance scam.

The three most common reasons people were asked for money were:

  • to pay for an emergency (37%);
  • to pay for the person’s travel to meet them (36%); and
  • to make an investment (29%).

Criminals will often try to establish a relationship quickly, using promises which gain trust. They’ll talk about their need for urgent financial help with the assurance they’ll pay it back however, this never materialises.

Tips to avoid romance scams:

  • Avoid sending money to someone you’ve never met in person
  • Photos may not be genuine. check if the person is who they say they are by reverse image searching their profile picture.
  • Stay on the dating sites messaging service until you’re confident the person is who they say they are and then meet in a public place
  • Speak to your family or friends to get advice and share experiences. Friends and family can watch for any change in behaviour

For further information, please see the following links:

https://www.onlinedatingassociation.org.uk/oda-consumers/date-safe/avoiding-scams.html

https://www.takefive-stopfraud.org.uk/

WhatsApp Scam

WhatsApp users are being urged to be wary over 'friend in need' scam.

If you receive a suspicious message - Stop & Think!

Calling or requesting a voice note is the fastest and simplest way to check someone is who they say they are. A friend in need is a friend worth calling!

STOP: Take time before you respond. Make sure your WhatsApp two-step verification is switched on to protect your account, that you are happy with your privacy settings.

THINK: Does this request make sense? Are they asking for money? Remember that scammers prey on people’s kindness, trust and willingness to help.

CALL: Verify that it really is your friend or family member by calling them directly, or asking them to share a voice note. Only when you are 100% sure the request is from someone you know and trust, should you consider it.

Beware of ticket fraud as restrictions ease

Useful fraud protection information can be found here

https://www.actionfraud.police.uk/news/beware-of-ticket-fraud-as-restrictions-ease

Tax credits customers should be vigilant and alert to potential scams, HM Revenue and Customs (HMRC) has warned

Useful fraud protection information can be found here: 

https://www.actionfraud.police.uk/alert/scams-warning-for-tax-credits-customers

Public urged to be vigilant as Fraudsters target elderly and vulnerable with fake COVID vaccine.

Useful fraud protection information can be found here: 

https://www.nationalcrimeagency.gov.uk/news/public-urged-to-be-vigilant-as-fraudsters-target-elderly-and-vulnerable-with-fake-covid-vaccine

National Insurance Scam leads to surge in calls to Action Fraud.

Useful fraud protection information can be found here:

https://www.actionfraud.police.uk/alert/warning-national-insurance-scam-leads-to-surge-in-calls-to-action-fraud

Useful Links

FCA Register - https://www.fca.org.uk/firms/financial-services-register

FCA Warning List (check an Investment or Pension Opportunity) - https://www.fca.org.uk/scamsmart

 

Fraud Statement

Cynergy Bank’s response to fraud scams is to review each incident on a case by case basis whereby all factors are considered to ensure that customers who are victims of fraud are treated fairly.  In most cases, where the customer is identified as being vulnerable, this may result in some level of compensation being paid to the victim without delay.

Following a thorough fraud investigation, where it is found that there is zero/limited customer negligence, the Bank will compensate the customer without delay.  Where customer negligence is clearly evidenced, compensation may not be as forthcoming.

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