| Have you ever received a suspicious phone call or an email asking you to click on a link? Chances are, you’ve probably already been targeted by online fraudsters. |
Financial fraud and online scams are becoming increasingly sophisticated, even as banks and other institutions put stricter measures in place to try and prevent them.
The best defence is being aware of the potential risks and knowing how to protect yourself effectively.
You’ve probably heard of terms like phishing, but what exactly are they and how can you spot them?
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This is when a criminal sends you an email in which they try to get you to give them your bank details or password. They may also try get you to click on a link, QR code, or file attachment to implant malware in your device. Often these emails look like they’re from a legitimate organisation like a bank or retailer, and look very similar to the ones you normally receive from them. Once you arrive at the fake site, you’re usually prompted to enter personal security information such as your account number, PIN, secure code, or one-time password. The phishing site records everything you enter and then uses it to take over your device remotely. |
Scammers will call you claiming to be from a company or authority you know and trust, like your bank or phone provider. They may know some of your personal details.
They will then ask you to share personal or financial details or transfer money to a “safe account” as your account has been compromised. Even if they ask you to press a number on your keypad to speak to a customer service representative, it may just be another fraudster.
If this happens, just hang up. And even if you tell them you suspect fraud and they recommend you call the number on the back of your card, wait a while before calling. The scammer can play a fake dial tone and keep the line open so that even after you dial another number, you’re still talking to them.
Fraudsters send a fake SMS pretending to be from a legitimate company to ask you to reply with your personal or account details so they can steal money from your account.
These messages will typically encourage you to take urgent action by clicking on a link or making a call. They’ll be from unknown numbers and look and sound genuine.
Remember, a bank or any other organisation will never ask you for your full PIN, password, or banking codes in a text message, or send links to their website.
Other forms of fraud include SIM swaps, where your mobile number is duplicated and the fraudster receives all your calls and messages.
Remember, these scams are not just online or on your phone. Another risk is ATM fraud, where somebody distracts you while withdrawing cash. They may either see your PIN or make off with your money as it comes out of the machine.
1. Be vigilant
Don’t trust any unsolicited communication asking for personal or financial information. Always remain sceptical, no matter how legitimate it looks. Never open links or attachments if you’re unsure about them. Follow the news on the latest scams and methods.
2. Keep your information secure
Never share your password, PIN, banking details, or personal information with anyone. Change your passwords every few months. A strong password doesn’t have to be difficult to remember.
3. Increase your protection
While you can’t always avoid receiving calls and emails, you can keep your computer updated by installing a firewall, anti-virus, and anti-spyware software. Keep your browser and software updated.
4. Report suspicious activity
If you suspect something is fraudulent, report it immediately. Most financial institutions have robust systems to detect and prevent fraud, and you can play your part by alerting them to anything unusual.
If you doubt the legitimacy of an e-mail or SMS, or if you think you've been a victim of a phishing/smishing/vishing scam, please contact hbmeinternetabuse@hsbc.com.
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