This latest scam targets your mobile phone
Experts have revealed that criminal gangs have devised a new form of scam: using spoof text messages that appear to come from your bank. Financial Fraud Action has issued a warning that people should be on their guard to avoid being taken in by these texts.
The texts claim to come from your bank. The criminals use cutting edge software, which alters the sender's ID, so when you check the name of the person who sent you the text message - it comes up as your bank.
It means the text becomes included within an existing text message thread on your phone. If for example, you get text alerts or regular statements by text, it will appear to come from exactly the same number.
What to watch for
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The message itself comes in one of three forms. It may tell you to call a number or visit a website to deal with an urgent issue. The website or phone line is actually controlled by criminals, and used to persuade people to part with their security details - which they can then use to access your bank account and empty it.
Alternatively, it may tell you that you will soon receive a call from the bank's fraud department. The phone call, however, will come from the fraudsters themselves, who will try to trick you into revealing your security details.
The third type of approach is where they use their software to make out look as though the text has come from a landline number, and then ask you to call your bank. They hope that rather than finding the bank's number elsewhere, you simply return the call to the landline number - which is controlled by the fraudster.
What can you do?
Katy Worobec, Director of Financial Fraud Action UK, said: "These text messages can look very authentic, so it's important to be alert. Always be wary if you receive a message out of the blue asking you for any personal or financial details. If you're ever at all suspicious, call your bank on a number that you know. Remember, fraudsters are after your security details – don't reveal anything unless you are absolutely sure who you are dealing with."
Financial Fraud Action UK says the best way to protect yourself is to assume that any text asking you to provide sensitive information is a scam. This includes any asking for passwords, trying to get you to reveal your own details, or asking you to make a transaction.
If you're asked to call a number provided in a text message, then call your bank on a number that you trust - such as the number on the back of your card - to check that the number and the message are authentic.
Never call the phone number a text message has been sent from. Instead call your bank on a number that you trust.
You should also keep in mind the basic rules of thumb that can protect you from so many scams. Your bank will never phone you to ask for your 4-digit card PIN or your online banking password. They will never ask you to update your personal details by following a link in a text message or an email.
They will never tell you over the phone how to respond to a text message confirming a transaction, and they will never ask you to transfer money to a new account for fraud reasons - even if they say the new account is in your name.
If you stick with these rules, then not only will they help protect you from the latest scam trend, but from a huge variety of other approaches the criminals use too.
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