Financial Scamming and Fraud

Telephone Scams
Scammers commonly make contact by telephone or text, often using a local number. They may
attempt to get personal details such as PIN numbers. These scams are referred to as ‘vishing’.
Citizens Advice (2018) also warn of scammers using premium rate numbers. Typically, a prize is
offered and can only be claimed by calling a premium rate number; callers are then tricked into
staying on the line for a long time. The longer the call, the more money the scammers make. The
prize never turns up or it will turn out to be an item worth less than the cost of the call.
Common telephone scams include bogus pension
and investment schemes, charity scams or
scammers posing as a bank official who claims that
your account has been accessed by scammers and
instructs you to transfer funds to a ‘safe’ account.
Courier scams are also common. These are usually
two staged; firstly, scammers cold call, claiming to
be from the bank or other authority and persuade
individuals to give their PIN number. Secondly, a
‘courier’ picks up the card which is then used by the
scammers.
Case Study
Mrs. A suffered a power cut after a
storm which resulted in her telephone
blocking device disengaging. During
the four hours without power her
daughter received 10 phone calls.
After investigation, it was found that
Mrs. A was receiving an average of 70
nuisance calls per month. During the
worst month 121 calls were received.
58% of people received suspect calls, an
increase from 41% the previous year.
(Financial Fraud Action 2014)
£23.9 million lost to vishing in one year,
which is up £7 million in one year.
(Financial Fraud Action 2014)
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Don’t return cold calls without checking
the other person is no longer on the
line.
Don’t give out your PIN to anyone.
Ask about the Telephone Preference
Service.
Install a call blocker.