Fraud is definitely on the increase and recent stats show around £58 million getting scammed with “Corona-inspired” scams this year! Here we explain what is meant by different types of fraud and how to protect yourself! The “interception scam.”
Pretty simple really, fraudsters “intercept” your email (Cyber-space) or letters (Snail-mail), alter the bank/contact details and then pass the email/post back on to you. They will typically re-create the letter identically, changing only the information required to complete the scam such as the bank account and sort code for payment!
When is this used? A typical example would be when buying a house. Your solicitor may ask you for the £10,000 deposit to be paid to their account, but the fraudsters “stop” (intercept) the letter, change the details and then send it on. You get the letter, believe its genuine (as you may be expecting the bill) then send the money to the money pilfering scumbags accounts and are none the wiser. Until your solicitor explains they have not had the money anyway!
How to protect yourself. Whenever you receive a request for payment from a trusted source, especially when you may be expecting it, STOP, call the person you’re paying and CHECK. (Just don’t use the phone number on the letter as that will have been changed too!!). Use a search engine to locate a separate number and use that. REMEMBER – Once you have sent the money it’s gone forever!
Always contact your local experts for advice on anything money-wise so we can help ensure your very own Financial Fortress!!