Fake bank emails most common type of fraud - Banking - News - Moneyfacts


Fake bank emails most common type of fraud

Fake bank emails most common type of fraud

Category: Banking

Updated: 11/07/2013
First Published: 11/07/2013

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Three quarters (73%) of the UK's population has experienced some type of fraud attempt, according to recent research.

The survey by first direct also revealed that over half (55%) of those who'd experienced fraud said it was carried out online.

Respondents reported that the most common type of fraud they'd come across was receiving a fake email from a "bank" asking for personal details such as online banking PIN numbers and login details.

Usually, these emails ask recipients to click on a link, which then takes them to a fake online banking site where they are asked for their banking details.

However, the number of fraud attempts seen doesn't seem to have discouraged consumers from going online to make transactions, with 81% of respondents saying they would still make a purchase online and 70% saying they still bank online.

If you believe you have been the victim of online banking fraud, the first thing you should do is notify your bank or building society.

Banking regulation states that a bank or building society can only refuse a refund for an unauthorised transaction if it can prove that the customer authorised that transaction, that they acted fraudulently or that they were grossly negligent in failing to protect their banking details.

If the bank or building society refuses a refund, customers should take their complaint to the Financial Ombudsman Service.

What Next?

Read Seven security rules to keep online banking safe in order to make sure you're never a victim of online banking fraud.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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