‘Safe Account’ Scams

You’d be surprised how cunning these fraudsters can be, masquerading as trusted entities – your bank, HMRC, even the police! They’ve conned folks out of nearly £100 million over the past year alone. So, let’s dissect this deception and stay one step ahead.

  • Impersonation Scams Unmasked: Scammers employ various tactics, one being an impersonation scam. They’ll reach out via phone, SMS or email, posing as a credible organisation you know and trust, nudging you to transfer funds into an account under their control. They can even ‘spoof’ legitimate phone numbers, making it seem as if it’s really your bank or HMRC calling. However, just because the number looks genuine, doesn’t mean you can let your guard down – remember, ‘spoofing’ is all too easy for these tricksters.
  • The ‘Safe Account’ Sham: Here’s a cardinal rule – no bona fide organisation will ever ask you to move your money elsewhere for safety. Nonetheless, these crafty scammers may try to hoodwink you into transferring your funds into a so-called ‘safe account’, playing on your fears that your money is at risk. Irrespective of how much they appear to know about your account, stay calm, hang up the call and get in touch with your bank directly using the number provided on the back of your card.

In a Nutshell:

Types of Scams: