Fraud uses deception to steal money or information. Common forms include impersonation, fake investments, purchase scams, account takeover and authorised push-payment scams.
Scammers manufacture urgency and trust. They may know real personal details or spoof a familiar phone number.
The useful points
- Stop and verify using a number or website you find independently.
- A bank or genuine organisation will not need you to move money to a 'safe account' or reveal a one-time code.
- Check the FCA Register for financial firms, but also verify the contact details because clone firms copy real names.
- If money or credentials were shared, contact the bank immediately, secure accounts and report through the official route.
Recognise the manipulation before analysing the offer
Scammers commonly use urgency, secrecy, authority, fear or the promise of unusual returns to stop people checking independently. Real personal details and convincing websites do not prove legitimacy. The safest response is to break contact and restart through a trusted channel found separately.
- Never move money to a so-called safe account.
- Do not share passcodes or allow remote access to a device.
- Check both the firm and its contact details because clone firms copy real registrations.
Act in the first minutes after a mistake
Speed matters after money, card details or login credentials are exposed. Contact the bank through its official app or number, freeze cards where appropriate, change compromised passwords from a safe device and preserve messages. Reporting quickly also creates a clear timeline for the bank and authorities.
- Secure the email account because it can reset other accounts.
- Tell the bank exactly what was authorised and what was not.
- Ignore anyone demanding an up-front fee to recover stolen money.
The safe-account call
A caller knows your address and says fraud is underway. Hang up, wait, and call the bank using the number on your card or app. Do not move money on the caller's instructions.
What this means for you
Use the same steps with your own figures. Change one assumption at a time and check that essentials still fit before committing.
Common traps
- Trusting caller ID
- Paying under time pressure
- Letting a stranger control the device
- Feeling too embarrassed to report quickly
A realistic action list
- Stop contact
- Call the bank through a trusted channel
- Change exposed credentials
- Report the incident