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Fraud alert – ongoing bank frauds identified

19 June 17

An alert from Lockton, the Master Policy brokers

Lockton has recently become aware of further frauds involving telephone banking frauds. Please ensure that ALL staff are made aware of the following risk:

  • You will receive a telephone call purporting to be from your bank.
  • The caller will make some claim regarding a problematic payment – and that the firm’s own/client account has been temporarily “frozen”. The payments listed may include some genuine payment details if the fraudster has obtained access to confidential information.
  • If you have caller display, both the original call, and any call back, could well show up as your bank’s actual number. Fraudsters have found a way of scamming the caller-ID system.
  • If you hang up, and use the same telephone or line to call the bank direct, there is a strong chance that fraudsters may be able to “hold” the line open – convincing you that you are through to your own bank.
  • You will then be asked for login details or asked to assist with manually processing payments. Some fraudsters simply asked the client to login securely without themselves asking for any security information, and then provided details of accounts disguised as “anti-virus codes” – in the process instructing transfers to their account.

Follow our three-step guidance to reduce the risk of falling foul of telephone fraud:

  1. Do not speak to anyone who calls you purporting to be from your bank. 
  2. Do not use any telephone number they provide to return their call.
  3. Do not use the same telephone to return the call – and call back using a number that you already have on record as being the official bank number.

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