Banking text scams are on the rise

11 June 2015

scam

Careful on your phone, now! Why? Criminals are sending people text messages that look like they're from your bank - but they're not! And of course, they're after you juicy bank details so they can steal your pennies.

So what's the skinny? Well, the texts claim that there has been fraudulent activity in your account or, in a more sly move, that your account details need to be updated. A phone number and website are provided, saying that the matter is very urgent.

Of course, the number and website is controlled by scammers, and Financial Fraud Action UK, have warned that this type of hoodwinkery is on the rise, with a spike in the last couple of weeks.

To make the texts seem authentic, fraudsters use specialist software which alters the sender ID on a message so that it appears with the name of a bank as the sender. This can mean that the text becomes included within an existing text message thread on the recipient’s phone.

Katy Worobec, director of Financial Fraud Action UK, said: "These text messages can look very authentic, so it’s important to be alert. Always be wary if you receive a message out of the blue asking you for any personal or financial details. If you’re ever at all suspicious, call your bank on a number that you know. Remember, fraudsters are after your security details – don’t reveal anything unless you are absolutely sure who you are dealing with."

Of course, what normally happens when there's fraud, is that your bank will ring you up and tell you what's going on. There, you'll go through security and other means to put your mind at ease. If your bank texts you, ever, it is usually to sell you something, so be aware. However, some fraudsters will send a text to say you'll be receiving a call from your bank's fraud department, which makes the whole thing more complicated.

Things to look out for

If you get a text, asking you for your personal details and sensitive information, chances are, it is a scam. A bank will never ask for your full password.

If you’re asked to call the number given in the text message, it'd be worth entering the number online, as it is likely to come up as a scam number. If you're unsure, get a number you trust, like one included on your statement or one from your bank's official website.

Your bank will never ask you to update your personal details via a link in a text, or tell you how to respond to a text message to confirm a transaction. They will also never ask you to transfer money into another account, ever. So if you get a whiff of anything that sounds dodgy, don't do it.

TOPICS:   Banking   Scams   How To Guides

1 comment

  • DrJogalog
    Too many dumbass's get scammed by this sort of stuff. It really isn't hard to detect a fake site/call/text/email from legitimate ones. If it's too good to be true, it is, and if you receive random communication from a supposed financial source, 99.9% of the time it will be phishing. Simple. Don't be so naive.

What do you think?

Connect with Facebook, Twitter, or just enter your email to sign in and comment.

Your comment