Personal finance expert shares tips on how to protect yourself against online fraud.

Did you know that fraud is the most commonly experienced crime in the UK, with four fifths of reported cases being cyber-related?

As many as nine in ten UK adults who use online services have discovered content they believed to be a scam.

Shocking data further revealed that UK consumers lost £580m to criminals in the first half of 2023. During this time, almost 1.4m cases of fraud were reported, which equates to one case every 12 seconds.

1. Familiarise yourself with common scams

“Criminals are ever evolving in their quest to get their hands on personal information and, ultimately, your money. They are deploying a range of tactics to gain the trust of their victims, and scams are becoming harder and harder to spot.

“Some of the most common scams include:

· The ‘Hi Mum/ Dad’ scam has been circulating for a few years now, and is generally received via text or WhatsApp. The message will usually be sent from an unknown number, and will say something like, ‘Hi Mum, I’ve broken my phone. Can you save this number please?’ If engaged with, the sender will eventually ask for money to be sent to cover the cost of a new phone or an ‘emergency.’ If you’re sent a message of this nature, it’s a good idea to contact your child on their original phone number and verify the facts.

· A bogus text from somebody posing as Royal Mail, or a delivery service such as Evri or DPD, requesting a fee to release a parcel.

· A link supposedly from HM revenue and Customers (HMRC) which you are encouraged to click and follow in order to claim a tax refund.

· A phone call from a withheld or unknown number claiming to be from your network provider offering money off your contract or bill.

· ‘Romance scams’ were up by 29% in the first half of 2023, and saw fraudsters creating fake dating profiles to lure in unsuspecting victims. It is not uncommon for criminals to build up an online relationship with their victim over a number of months, before detailing a sob story and asking for money to fund associated costs. Be very wary of anybody you don’t really know who asks you for money, even if your online friendship or relationship feels genuine.

“If you receive any form of communication that you’re unsure of, try Googling the content, or the phone number or email address it has been sent from. Somebody else may well have already flagged it as suspicious.”

2. Know the signs

“No matter how savvy we are, it’s becoming increasingly difficult to distinguish between authentic communication and potential scams.

However, there are a number of steps we can take to investigate further.

· Carefully check the spelling and grammar of the communication sent, particularly if the content has supposedly come from a professional company. If there are numerous spelling mistakes and poor grammar throughout, there is a chance it could be a scam.

· Additionally, if a company claims to be UK-based but their communication is littered with broken English and unusual expressions, you may have reason to question their validity.

· Scrutinise email domains. At a glance, the email addresses used by scammers might look genuine, and may even almost mirror the company they are impersonating. For example, criminals posing as Evri may use the email address @evr1.com, which has subtly replaced the letter ‘i’ replaced with the number one, which may initially go unnoticed.

· It’s extremely rare that any legitimate company will approach you via WhatsApp, or text you from an unknown number. If you receive a WhatsApp message, check out the finer details of their profile, including their status and photo. If their profile picture is a selfie, or a photo of a motorbike, it’s almost certainly not a genuine NatWest account.

3. Reach out to the company

“If you’re suspicious of any communication, you should try to verify it with the company it has supposedly been sent from,” Alex says. “For example, if someone rings you and tells you you’ve been chosen to receive a discount off your next phone bill, make a note of the number and call your network provider back on their main customer line, which can usually be found on their website.

Tell them about the phone call you’ve and ask if this is genuine or a scam call.”

4. If you suspect a scam, do not engage with it

“If you have reason to suspect that you are being targeted by fraudsters, it can be hard not to challenge them. While tempting, this is not a good idea. Simply withdraw from all communication and block their contact details. You do not owe the criminals a second of your time, or any explanation as to why you do not wish to communicate with them, no matter how aggressive they may become.

“Never click on any links that you cannot 100% validate. Sometimes, links contain viruses that have the power to infect your device and spread throughout your contacts.”

5. Reporting the scam

“Falling victim to a scam can leave us with a range of emotions. This may include feelings of shame. It’s important to remember that scams can happen to anyone. These are professional criminals who are often very good at what they do, and there is absolutely no need to feel embarrassed.

“If you wish to report the scam – which may help to prevent it from happening to others – be sure to take screenshots and make a note of the details used to contact you.

You can file a report quickly and easily online on either the Gov.uk website, or via Citizens Advice.

“If you have accidentally given out your bank details, you should contact your bank as soon as possible. They will be able to take immediate precautions to protect your money, including freezing your account and issuing you with a new card and PIN.

“Lastly, if you feel threatened or in danger, you should call the police. Nobody has the right to make you feel unsafe.”

6. Protect yourself

“You can help to minimise the threat of being scammed by regularly changing your passwords and PIN. Set your social media accounts to private – this may sound extreme, but you’d be surprised by the ways criminals operate. They may spend months watching your activity and getting to know you before attempting to steal your data or attempting to befriend you,” Alex warns.

“Where possible, try not to avoid allowing websites to store your card details. While pre-saving your cards can make for a faster checkout during online shopping, it can also put you at greatest risk of fraud.

“When our phone rings with an unknown number, it’s natural for the panic to set in, as we start to imagine all kinds of scenarios.

What if it’s the doctors, or the garage that are currently working on our car?

The best solution to deal with unknown numbers is to simply ignore them until you know more. A quick Google search could reveal whether the number is linked with a legitimate company or not.

Additionally, be sure to enable the voicemail settings on your phone – if somebody genuinely needs to get hold of you, they will leave you a message, and you can call them back in confidence.”

-ENDS-

The thimbl. credit card and the thimbl. Loan are issued by Vanquis Bank Limited. Digitonomy Limited (trading as thimbl.) is a credit broker not a lender, and provides its services to Vanquis on an exclusive basis in respect of each of these products. Digitonomy is paid commission from Vanquis for these services. If Vanquis are unable to provide you with one of these products, Digitonomy will try to find you an alternative product and will receive commission from the provider of that product if you enter into an agreement for it. Digitonomy's registered office is: Steam Mill Business Centre, Steam Mill Street, Chester, Cheshire, CH3 5AN. Registered in England and Wales, under company number 08385135. Digitonomy is authorised and regulated by the Financial Conduct Authority, and is entered on the Financial Services Register under reference number 690249. Licenced by the Information Commissioners Office, (registration number ZA007309).

Website: https://www.thimbl.com/

Alex Kosuth-Phillips - Personal Finance Expert at thimbl.

Alex is the Compliance Manager for thimbl.com and is responsible for ensuring our website follows Financial Conduct Authority (FCA) regulations. He is passionate about ensuring that we treat all our customers fairly, and do all we can to ensure a positive experience and outcome for our customers.

Alex has been featured in various news articles and even on BBC television, providing information and guidance on how to avoid financial fraud and scams.