Are you and your employees using online banking safely?…
Transferring money via mobile and online banking is easy and convenient in both business and personal use. However, cybercriminals take advantage of this convenience. Scams happen usually when buying or selling goods and the cybercriminal plays on your emotions with offers such as making money. There are a few kinds of scams involved with transferring money as explained below.
This is usually common with fake loans. Genuine looking websites containing realistic documents and email addresses advertise cheap loans or a loan offer that seems too good to be true. Once you get in contact with the company, you are asked through a thread of emails to make an advanced payment. The victim then completes this transaction through online banking, but the loan never exists and the website is shut down, along with all contact with the cybercriminals.
Proof of Payment
Lottery Wins and Prizes
Vehicles for Sale
The seller is the cybercriminal and asks the person interested in the vehicle to send money as a deposit via online banking, or to cover shipping fees. The buyer does this, but there is no vehicle and the victim is no longer able to contact the cybercriminal. This also works the other way round with the seller being scammed. The cybercriminal sends the seller a cheque as a deposit for the vehicle. However, they change their mind and request the seller to transfer the money back. The seller does, but without knowing, the cheque is fraudulent so eventually bounces.
Cybercriminals target the elderly for this scam. They pretend to be grandchildren to the victim in desperate need of help. With stories of sickness, being assaulted, arrested or just an urgent situation. The cybercriminal then asks for money from the elderly. The elderly victims then fall for this, worrying for their family and transfer the money via online banking.
Relationships, Romance and Dating
Things to watch out for
- Situations or goods that seem ‘too good to be true’
- Items seem a lot cheaper than usual
- People offering you more money that the asking price of something you are selling
- Investment schemes
- Unusual ‘processing fees’ or ‘tax’
Protect yourself and your business
- Never transfer money to someone you have never met before
- Never send ‘taxes’ or ‘processing fees’ for lottery wins
- Never provide any bank details to anyone, this should always be kept confidential
- Don’ make any prepayments for loans or credit cards
- Never send a deposit for a car unless you are doing so from a reputable company
- Never send money in an ’emergency’ without verifying the emergency
- Never transfer money back fro a cheque or send the goods until a cheque has fully cleared
- Do not transfer money for online purchases, use a safe and secure online checkout
- Never open any links or attachments in emails, especially if you don’t know the recipient
- Call your bank immediately and inform them of any payments you have made
- Warn other employees in the company so the mistake isn’t made twice
- Phone us straight away on 0800 680 00 88 and report it to Action Fraud