The Difference Between A Bank And A Burglar

beggers March 20, 2017 0
The Difference Between A Bank And A Burglar

Banking has become easier than ever and that is because there are so many different avenues open to us as customers. There is telephone banking, online banking, and mobile banking, all of which are designed to make our user experience that much more efficient and that much better. However, these different avenues have also opened up new opportunities for fraudsters.

However, while there are numerous ways in which they can attack your finances, the most common form of fraudulence still sees these individuals trying to imitate your bank. That is why it is so important you understand who is a fraudster and how to tell. As such, we have compiled a list of questions that fraudsters will ask but your bank won’t, ever.


Pin And Passwords

Your bank will never call to ask you for your pin or your passwords, so if this happens then alarm bells should start ringing in your head. It could be that your bank notices some sort of suspicious transaction or behavior on your account, which would see them contact you to ensure it was you and not a thief. If this is the case, they would ask for part of your pin number – never all of it – and never ask for your password.

Show Up At Your Home

A trick that a lot of fraudsters use is a physical presence. This is a way to put pressure on you and prevent you from thinking with a clear head. It will usually start with a phone call where they state some sort of emergency with one of your accounts. This could see them demand your pin code to prevent fraudulent activity or even adopt a more friendly position to gain your trust, such as explaining what is PPI and then accepting they have made a mistake and want to refund you. They will then tell you that they are sending someone around to your home to collect your card or another vital piece of financial hardware. Another thing to note is that they may have very convincing identification. If this happens, remember that banks do not do this. They never send people out to your home.

Phishing Emails

This form of attack has become more sophisticated than ever in recent months. How it works is, a fraudster will send you an official-looking email with a link to a website that will ask you to enter certain details, including banking details. It could be that they send you a bank statement that shows purchases you didn’t make, or state that your account will be terminated within 12 hours unless you click the link and follow the instructions. Banks will never do this. So forward the email onto the fraudulent department of your bank and let them deal with it.

Authorisation Of Transfers

One of the most effective – and most popular – forms of attack used by fraudsters is to contact you in a matter of urgency to explain that your accounts are under threat. They may use the terms ‘corrupt employee’ or ‘cyber criminals’, and then explain how you will need to transfer your funds into a new safe account. This is an attempt to rush you into a mistake that could cost your dearly. As such, it is imperative to remember that banks will ever do this. They have precautions in place to protect your funds from attacks and will never request the transfer of funds to any account other than yours.

Test Transactions

Another sneaky way in which cyber attackers operate is to call you and pretend to be a member of staff from your bank, explaining that there have been some technical difficulties their end. They will then ask you to go online and perform a test transaction. This is a sophisticated way to get hold of your details without you thinking twice about it. Once again, this is not a procedure that any bank operates with. As such, if you find yourself in this position it is important you report it to your bank, along with any details you can offer, such as an email address or phone number, so that they may alert their other customers.

Trust Your App

Mobile banking works through a secure native app that is managed by your bank. As such, any and all mobile banking should be don through their official app and nothing else. If you are unsure of which app is their official one, always visit their website and follow the links from there. This will ensure you don’t fall prey to any fraudulent activity.

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