UNDERSTANDING FRAUD
AND SCAMS
What is a financial fraud?
Financial fraud is when someone deliberately deceives you for their own financial gain. Its happens when someone misrepresents or hides information to take money from someone else. It can happen even if you don't do anything. Someone might hack into your account and transfer funds, for example. Or use your credit card information to make a purchase.
What is a scam?
A scam is a type of fraud. It involves you being tricked into doing something that gives the scammer access to your account, personal information, or money. Scammers impersonate businesses and organisations like banks, solicitors and brokers, or advisers. They use emails, phone calls and text messages that look and sound genuine.
What if I've been a victim of a fraud or scam?
If you think you've been the victim of a fraud or scam, it's important to contact our Customer Services team as quickly as possible.
More information
There's useful information to help you understand and protect yourself against fraud and scams from these sites:
Action Fraud is the reporting centre for fraud and cybercrime in England, Wales and Northern Ireland. Customers in Scotland should call Police Scotland on 101.
Take Five to Stop Fraud is the national campaign offering straightforward and impartial advice to help you protect yourself from financial fraud.
Land Registry Property Alerts is where you can protect your property from being sold of mortgaged fraudulently.
gov.uk/protect-land-property-from-fraud
National Cyber Security Centre offers advice on protecting yourself against digital fraud like phishing, malware and a huge range of other digital crime.
Ofcom has a page dedicated to advice on reporting and protecting yourself from phone call or text message scams.
If you are concerned that your credit profile is at risk of fraud, there are a number of credit references agencies which provide potential fraud alerts.
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