We look at the most common tactics fraudsters use to get your bank details.
Telephone fraud, or vishing, is on the rise. Fraudsters use clever tactics to get you to share your personal details over the phone. Vishing is rife in the finance and insurance sectors, but also impacts the police, big companies and individuals.
A 69-year-old woman from Farnham near Southampton, was targeted in May with a call claiming to be from her bank's fraud investigation department. A retired teacher, said she was asked for by name and told her card had been used fraudulently at a high street store.
'They put me at ease, and told me the card had been stopped,' she said. 'They asked me to read out the number on the back of my bank card and said I had to call the number straight away'.
She hung up and called the number, but the fraudster stayed on the line and pretended to be a customer services representative. 'They asked me to check my account online and said there was a risk my account would be hacked,' said the victim. 'They said they'd set up new accounts and they would talk me through it.' She was told to move £17,500 of retirement savings in separate transfers totalling £8,745.55 and £8,845.22 respectively.
'I became increasingly suspicious, but I kept telling myself I had dialled the phone number myself,' she said. 'I was getting increasingly unhappy. My husband came home and I asked him to ring on his mobile.'
The husband and wife quickly realised they had fallen victim to a scam. (Sourced from BBC online, no names have been disclosed)
Luckily, on this occasion the lady was reimbursed in full by her bank, but some people aren't always as lucky.
Vishing scammers can go to great length. They use a number of techniques to get information from you. These are some of the methods to look out for:
Independent Regulator and Competition Authority for the UK communications industry.
Report a complaint or issue relating to phone calls.
2. The Information Commissioner's Office (ICO):
An independent authority set up to uphold information rights in the public interest.
Report a complaint or issue relating to nuisance calls.
An independent organisation which works on behalf of the consumer to make individuals as powerful as the organisations they deal with.
Which? Provides a list of the Top 10 most reported numbers and assists with issuing a complaint on your behalf, subject to approval.
4. Telephone Preference Service (TPS):
Provides a free service allowing UK consumers to opt out of receiving telemarketing calls.
You can register both your landline and mobile telephone number to avoid nuisance calls. It's a free service which enables you to join the official register to opt out of unsolicited sales and marketing calls.
To find out more about how LV= protects its customers visit our vishing information page.