Lockton have recently become aware of further frauds involving telephone banking frauds, putting firms at risk of claims in the hundreds of thousands. Please ensure that ALL staff are made aware of the following risk.
Typical fraud scenario
- You will receive a telephone call purporting to be from your bank
- The caller will make some claim regarding a problematic payment – and that the firm's own/client account has been temporarily 'frozen'. (the payments listed may include some genuine payment details if the fraudster has obtained access to confidential information)
- If you have caller display, both the original call, and any call-back, could well show-up as your bank's actual number. Fraudsters have found a way of scamming the caller-ID system
- If you hang up, and use the same telephone/line to call the bank direct, there is a strong chance that fraudsters may be able to 'hold' the line open – convincing you that you are through to your own bank
- You will then be asked for log-in details or asked to assist with manually processing payments. Some fraudsters simply asked the client to log-in securely without asking themselves for any security information, and then provided details of accounts disguised as 'anti-virus codes' – in the process 'instructing' transfers to their account.
Follow our three-step guide to reduce the risk of falling foul of telephone fraud
Remember, criminals use sophisticated tactics to convince you. Be suspicious of anyone calling who suggests that there is a block on your account. Before you give ANY information away - ALWAYS follow these simple three steps.
DO NOT SPEAK TO ANYONE WHO CALLS YOU PURPORTING TO BE FROM YOUR BANK. HANG UP & CALL THEM BACK.
DO NOT RETURN THEIR CALL USING A TELEPHONE NUMBER THEY GIVE YOU - USE A NUMBER YOU ALREADY HAVE ON RECORD.
USE A DIFFERENT TELEPHONE TO RETURN THEIR CALL
Download our Poster
Download our poster for use in your office - click on the link in the downloads section on the RHS of this article.
For more information
We have a wide range of guidance on our website about current frauds and scams. You can also contact us to discuss any particular concerns you have.