Financial Fraud: One Scam ‘every 15 seconds’ – report

There is reported to have been a sharp rise in financial fraud, with more than one million incidents where people lost money recorded between January and June.

Financial Fraud UK (FF UK), which compiled the figures, said it represented a 53% increase on the first six months of 2015 and equated to one scam every 15 minutes.

Some examples even included criminals posing as police officers at a victim’s front door claiming their bank account was at risk from thieves and urging them to transfer cash to a so-called ‘safe account’. More common types of financial fraud included email deception – known as phishing – and phone and text-based scams, known as ‘vishing’ and ‘smishing’.

The FF UK said it had joined with the country’s major banks and financial services providers to launch an awareness campaign called Take Five. This aims to encourage people to pause and think before they respond to any financial requests or hand over any personal details such as pin numbers or passwords.

The campaign research found 26% of consumers are still willing to provide personal details to people claiming to be from their bank, even if they do not think they should.

Source: Sky News | Business

For more information on any of our Insurance Policies, please do not hesitate to contact us on 0191 482 0050.

Ex- O2 Chief Warns of UK's 'analogue' Thinking on Smart Cities
UK Car Insurance rises by 13% in a year
No Comments

Sorry, the comment form is closed at this time.

Give us a call for a free quotation or professional advise on: 0191 482 0050