In the last twelve months around £23 million has been scooped up by fraudsters that convince unsuspecting members of the public to transfer it to them.
This type of trick has now become the most regular form of phone scam that takes place in the UK. The fraudster normally calls the victim and pretends to be one of their bank’s employees.
The person carrying out the fraud convinces the person on the other end of the line that their accounts have been subject to fraudulent activity. Once the victim is convinced, the fraudster then tells them to transfer their money into a “safe” account. Once this is done the “safe” account is drained of the victim’s cash and the fraudster is never heard from again.
The fraudsters often use telephone software that allows them to display the same phone number as the victims local banking branch, making the story seem more plausible.
These con-artists also use stolen banking information such as account numbers to make their story seem more likely to be true.
The director of Financial Fraud Action UK, Katy Worobec, said:
“More and more people have heard about the dangers of phone scams and how they work, but unfortunately there is still a significant number who are unaware that highly professional criminals are systematically targeting members of the public to deceive them out of their savings,” said Katy Worobec, director of Financial Fraud Action UK.
Neighbourhood Watch have called for local volunteers to help raise awareness of this form of fraud in some of the targeted areas.