Financial scam 'every 15 seconds'

20 September 2016
Financial scam 'every 15 seconds'

In a bid to warn you against money scams, Financial Fraud Action have said that, in the first half of 2016, there's been a finance scam once every 15 seconds.

That's over a million cases of card fraud, phone fraud, cheque scams, and online hoodwinkery from January to June according to the FFA, which is a 53% rise from the same time last year.

The FFA, backed by payment card businesses and banks, want to raise awareness in a bid to stop fraud.

Along with the police, they're backing the The Take Five campaign, which looks at helping people who think they're too busy to sidestep financial fraud.

"We are asking people to take five - to take that moment - to pause and think before they respond to any financial requests and share any personal or financial details," said Katy Worobec, director of FFA.

Home Office Security Minister Ben Wallace, said: "The impact of financial fraud can be devastating on victims, with fraudsters using increasingly cunning and convincing tactics. They prey on people who are trying to get on with their lives but in a moment where they are busy or distracted become vulnerable."

"At the same time, the government is working closely with law enforcement and the banking sector through the Joint Fraud Taskforce to take action to stop the organised criminals behind financial fraud."

Of course, the ways in which you can protect yourself are pretty easy if you keep certain things in mind - never ever tell anyone your personal details like your PIN or password - no bank will ever ask for either of these things.

Don't let anyone rush you if they've got in touch, and don't assume they're genuine if they do.

TOPICS:   Scams

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