FRAUD WARNING: Exploiting BREXIT among top ways scammers will cheat people out of money
GETTY Bogus Brexit investments and malicious software are set to threaten consumers in 2018
Bogus Brexit investments, malicious software on smartphones and social media spying are among eight scams consumers need to watch out for in 2018. As excitement builds around Prince Harry and Meghan Markle’s wedding, scammers will try to rip off couples who are also planning to wed with fake websites. Homebuyers should watch out for bogus emails purporting to be from those dealing with their purchase. Criminals are constantly coming up with new and more sophisticated ways to try and defraud customers, Nat West’s Digital Safety 2018 report warned. Now the bank is urging people to be aware of potential cons after working with research agency The Future Laboratory to analyse scam trends from the last 18 months and to predict emerging frauds in 2018.
GETTY Fraudsters will exploit confusion surrounding Brexit to persuade consumers to make bogus investments
Financial fraud is now the most common crime in the UK, and scammers are dogged in their attempts to get their hands on people’s money Julie McArdle
According to the predictions, social media spying by fraudsters is increasingly common as people do not realise how much information they are giving away. Property buyers, for example, who announce on Facebook they have found their dream home are alerting scammers to the fact they will have funds from their previous property hitting their bank accounts soon. This could result in the fraudsters impersonating their solicitor and requesting for funds to be misdirected to them. An emerging threat is the malicious software criminal gangs use to spy on victims’ browsing habits. Up until now, malware has mainly been restricted to PCs, laptops and tablets, but it’s expected the threat will grow among mobile devices, and people who ‘jailbreak’ their phones to download unsafe or unapproved apps are especially at risk.
GETTY Fraudsters are also predicted to target the 16m people who use dating apps
Fraudsters are also expected to exploit any confusion around Brexit to persuade consumers to make bogus investments. For example, scammers may email customers, warning Brexit will affect their savings, and that they urgently need to move them into a seemingly plausible, but actually fake, investment product. Others will prey on World Cup excitement by selling fake football tickets and package trips to Russia from non-existent travel companies. Cash-strapped students in university towns could be targeted by ‘mule recruiters’ to inadvertently launder money by accepting stolen funds into their bank accounts. They are then asked to withdraw it and send the money to a different account, often one overseas, keeping some of the money for themselves. Security experts also fear couples about to be married could be easy prey for scammers who tempt victims with extravagant offers at bargain prices on fake websites.
Cases of criminals preying on the 16m people who use dating apps looking for romance are expected to increase. Bogus online profiles are created to form a relationship with victims who then offer up personal information. And there are likely to be a growing number of scams aimed at first-time buyers, the research found. Computer hackers monitor emails sent by a solicitor to a first-time buyer and then they pounce, pretending to be the solicitor and telling them the solicitors’ bank account details have changed in order to steal cash. Julie McArdle, NatWest’s security manager, said: “Financial fraud is now the most common crime in the UK, and scammers are dogged in their attempts to get their hands on people’s money and are always looking for new ways to get ahead. “This means banks and customers need to evolve alongside scammers too and by being aware and staying ahead of scammers, we can stop them winning and keep the country’s money safe and secure.”
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