All the tricks scammers use to steal your money – Barclays Bank revealed

One major bank said it has seen an increase in scams over the past three months, with scammers largely relying on purchase, impersonation and investment tactics to steal funds.

Hand on computer keyboard, symbol of a hacker
Scammers rely on shrewd psychology, experts warn

Financial scams against Britons are on the rise – and now major bank Barclays has revealed three main ways Scammers are aimed at consumers.

The bank said it recorded a 17% increase in cheat over the past three months, and other metrics show that attempted fraud has increased by 70% during this time period.

Barclays lead behavioral scientist, Dr Pete Brooks, says there are ways to reduce your risk of being misled by the most common scams.

Fraudulent purchase

Purchase scams, where people shop online that don’t exist or never arrive, account for more than half (53%) of scams reported in Barclays data – with an average loss of £980.

Dr Brooks explains: “Scammers create a perceived scarcity and therefore ‘value’ in what they are selling to drive consumers to act quickly and not rely on reviews. better than theirs.

Barclays has got some top tips for keeping consumers safe from online fraud


Getty Images / iStockphoto)

“This could be promoting something as a ‘one-time offer’, limited edition price or availability, or forcing us to buy something a ‘must’ buy now – even if you’ve never seen the product in real life”.

Barclays’ advice is to never rush and read reviews of the place you’re shopping.

If you have any concerns or if you are unsure, it is important to take the time to check before proceeding with your purchase.

If it’s a big-ticket item like a car, unless you’re buying directly through a well-known brand, it’s a good idea to see it in person before spending money.

Impersonation scam

Barclays research shows that more than two-thirds of Britons (64%) would be more likely to comply with a request if we believed it came from an organization we know like our bank, “ close or even NHS.

“In these situations, fraudsters will exploit that sense of authority to instill fear in their victims – possibly indicating their bank account has been compromised,” said Dr Brooks. trespassing, they are past due or they will be penalized for not paying in full. – psychologically, many of us would take these at face value if they came from what we believe to be a reputable institution. “

Real phone calls from the bank will never ask the customer to do things like share their PIN/security information or transfer money to a ‘secure account’.

Investment scam

Investment scams are usually the highest average value scam which is why they are attractive options for scammers – with an average of £15,788 lost to scams this last quarter.

“Investing in general should be a very measured activity, and people looking to invest their money will often do a lot of research before making their decision, or at least,” Dr. Brooks explains. is to ask for a second opinion.

However, scammers are experts in exploiting the fact that people want to increase their wealth and sometimes we can put our better judgment aside for a chance to pay back. high.”

This is reflected in the research, with three in ten (32%) admitting that they would be willing to go with an investment or savings provider they’ve never heard of if they think it’s profitable. will be higher than their current supplier.

The next one-fifth (21%) said they were uncertain, indicating they are likely to be convinced.

Check out the FCA website and alert list for clone companies to make sure that you are dealing with a genuine company.

If you have any doubts, talk to someone you trust and don’t ignore your concerns.

It’s important to ask questions and make sure you’re comfortable with the choices you’re making and remember, if the returns seem too good to be true, they probably are.

Barclays UK head of economic crime Sian McIntyre said: “True fraudsters are adept social manipulators and prey on human nature to get their desired results. .

“Our research shows that almost three-quarters of Britons have noticed an increase in suspicious activity in the past three months and of those who have been scammed almost four in ten (39%) have not reported it.”

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Fry Electronics Team

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