SMEs warned against rise in impersonation scams

Businesses are asked to stay alert after a rise in impersonation scams.

Classic impersonation frauds include a phone call from your bank’s fraud team encouraging you to move your money to a “safe” account, or the police saying you need to withdraw funds to help an investigation.

However, Metro Bank has issued a specific warning to its business customers after a marked rise in requests for remote access to computers.

“Criminals are constantly finding new ways to trick people into sending funds or sharing personal details, and we want to make you aware of remote access takeover fraud,” warns Metro Bank’s Head of Fraud & Investigations, Baz Thompson.

“The acid test is if you get asked to send money urgently or are pressured to act quickly. Always be suspicious, especially if you’ve been contacted unexpectedly,”

“When faced with a request for personal or financial information, stop and think before clicking on any links or replying to text messages. Never let someone who has called you out of the blue gain remote access to your computer or phone.

“If it doesn’t feel right, you can hang up on them. Only criminals will persist in trying to get your information.”

How to spot impersonation fraud

1. You receive a call, text, email or direct message with an urgent request for your personal or financial information to make a payment or move money.

2. You receive a message from a friend or family member requesting urgent financial assistance – as they are stranded overseas or require medical help.

3. You’re pressured to act immediately. The caller pressures you to rush causing a level of panic. Texts or messages may include a ‘hook’ to grab your attention, for example the criminal might say your money is at risk and you need to act to save it or suggest you will get a reward if you do what they ask.

4. You’re asked to transfer money to another account for ‘safe-keeping.’

5. You’re asked to purchase high value goods/vouchers to cover the cost of fines. They might also ask you pay a bill for tax or utilities or provide financial details to receive a rebate.

6. You’re asked for cash or a payment as part of a police investigation or told money in your account needs to be analysed as part of an ongoing investigation.

7. The sender’s email address is ever so slightly different to that of the genuine sender.

Previous articleBack-to-back fall in insolvencies, but conditions still tough for local businesses
Next articleLatest funding round open for agri-tech and food tech firms