People are being urged to never give out their personal details and remain vigilant of “relentless scammers” offering online “bargains”.
The soaring cost of living will continue to provide an opportunity for criminals in 2023, with people more likely to try a ‘get-rich-quick’ scheme, take a punt on a risky investment, or plump for a supposed bargain from an unknown seller.
The dangers were highlighted after a Norfolk victim lost £18,000 after being targeted by an online cryptocurrency scam.
The scam, being investigated by Action Fraud, saw the householder plagued by persistent phone calls demanding money after responding to an article on Facebook.
Jenny Ross, money editor at Which?, said: “Scammers are relentless when it comes to wanting our personal information and ultimately our money.
“Banks will never ask you for personal information, nor will they try to hurry you into making a decision. If this happens to you – whether by text, email or over the phone, step back and think about what they’re asking. If it looks too good to be true, it usually is.”
Five main scams to watch out for in 2023 — money mule requests, card theft, fake apps, spoof calls or texts and online purchase scams — have been listed by the consumer group.
To combat money mule fraud Which? says people should be watch out for requests that would unwittingly enable criminals to use your bank account to move stolen money.
Tactics employed include saying funds have been sent “in error” which people are asked to return to a different bank account, asking people to apply for credit or bank cards on behalf of someone else, or convincing people to move money sent to their account for a cut as a “favour”.
Meanwhile fake apps are increasingly being used to target your bank accounts with scammers pretending to be a legitimate institution.
The shocking scale of online fraud suffered by Norfolk victims was exposed when it was revealed they had been fleeced out of more than £90m in just three months - or almost £1m a day.
Action Fraud has warned cold callers often use high pressure selling techniques with the promise of high returns, particularly from investing in cryptocurrency, to persuade people to part with money.
Five banking scams to watch out for in 2023
1. Money mule requests
Beware requests that often appear on social media posts or emails that can unwittingly allow criminals to use your bank account to move stolen money, often saying funds have been sent “in error”.
2. Card theft
Keep a close eye on accounts, balances and payments with bank text or email alerts and use ATMs located inside bank branches.
3. Fake apps
Read reviews of apps and developers as these might give a clue as to their legitimacy.
4. Spoof calls or texts
Be suspicious of automated calls asking you to press numbers or click on links in text messages. Never simply trust the caller ID that comes up on a call.
5. Online purchase scams
Warning signs of a fake website may include spelling and grammatical mistakes and a lack of contact details. Stick to trusted retailers.
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