• Greenwich NHW Network

Cyber Crime Summary For June 2019

Greenwich Borough Cyber Crime Summary - June


In June 2019 there were 96 reports were made to Action Fraud costing a total of £259,685; an average of £2,705 per report. (There’s been some high value investment/pyramid scheme frauds this month)


The top 3 by volume (number of reports) type of fraud is as follows;

Online Shopping Fraud 21 reports £7,748 lost

Miscellaneous 21 Reports £12,335 lost

Banking Fraud 13 reports £12,508 lost


The top 3 by amount reported lost:

Investment Fraud £77,044 lost 3 reports

Pyramid Scheme Fraud £68,190 lost 1 report Consumer Fraud £51,255 lost 7 reports


Online Shopping

Victims are convinced in to paying money for items that don’t exist or are counterfeit when shopping online. E.g. fake adverts on eBay.

So remember:

• Stay on the website - follow procedure / terms and conditions.

Never use direct bank transfers – use the websites recommended payment methods.

Please see our video on the following link; https://www.youtube.com/watch?v=Y-_wPFXK2m4

Investment / Share sales Fraud Victims are pressured in to making “investments” or buying shares that don’t actual exist or have no chance of the financial return suggested. Genuine investment/shares companies do NOT cold call people



Look out for these six warning signs:

1. Unexpected contact ​​​​– Traditionally scammers cold-call but contact can also come from online sources e.g. email or social media, post, word of mouth or even in person at a seminar or exhibition.

2. Time pressure – They might offer you a bonus or discount if you invest before a set date or say the opportunity is only available for a short period.

3. Social proof – They may share fake reviews and claim other clients have invested or want in on the deal.

4. Unrealistic returns – Fraudsters often promise tempting returns that sound too good to be true, such as much better interest rates than elsewhere.

5. False authority - Using convincing literature and websites, claiming to be regulated, speaking with authority on investment products.

6. Flattery – Building a friendship with you to lull you into a false sense of security.


To reduce the chance of falling victim to investment fraud, the Financial Conduct Authority advises consumers to, at the very least:


1. Reject unsolicited investment offers whether made online, on social media or over the phone.

2. Before investing, check the FCA Register to see if the firm or individual you are dealing with is authorised and check the FCA Warning List of firms to avoid.

3. Get impartial advice before investing.

The FCA’s ScamSmart campaign encourages those considering investing to check its dedicated website www.fca.org.uk/scamsmart or 0800 111 6768 for tips on how to avoid investment fraud.



Pyramid scheme

Pyramid scheme fraud involves an unsustainable business which rewards people for enrolling others into a business that offers a non-existent or worthless product.


Are you a victim of pyramid scheme fraud?

You’ve been approached about a multi-level investment scheme that offers great-sounding profits with little or no risk. You’ve paid a fee to join the scheme. You’ve enrolled others on the scheme and already earned money from your efforts.


What should you do if you’re a victim of pyramid scheme fraud?

Report the fraud to Action Fraud

If you think you’re actively participating in a pyramid scheme, break off contact with the fraudsters immediately and don’t invest any more money.

If you’ve given the fraudsters your bank account details, alert your bank immediately.

Keep any written communications you’ve received from the pyramid scheme. They may help you give evidence to the authorities.

Be aware that you’re now likely to be a target for other frauds. Fraudsters often share details about people they’ve successfully targeted or approached, using different identities to commit further frauds.

People who’ve already fallen victim to fraudsters are particularly vulnerable to the fraud recovery fraud. This is when fraudsters contact people who have already lost money through fraud and claim to be law enforcement officers or lawyers. They advise the victim that they can help them recover their lost money – but request a fee.


Protect yourself against pyramid scheme fraud

If you’re considering any type of investment, always remember: if it seems too good to be true, it probably is. High returns can only be achieved with high risk. Pyramid schemes often involve products that are overpriced and have no real resale value. You should think about the true value of your investment before convincing friends and family to join the scheme.


Banking Fraud

Bank account fraud has occurred if transactions you haven’t made show up on your bank statement.

Bank account fraud could happen as a result of identity theft, when cards or bank account information has been stolen.

Protect yourself against identity fraud

· Don’t throw out anything with your name, address or financial details without shredding it first.

· If you receive an unsolicited email or phone call from what appears to be your bank or building society asking for your security details, never reveal your full password, login details or account numbers. Most banks will not approach their customers in this manner.

· If you are concerned about the source of a call, ask the caller to give you a main switchboard number for you to be routed back to them. Alternatively, hang up and call your bank back on the legitimate phone number printed on your bank statements.

· Check your statements carefully and report anything suspicious to the financial institution concerned.

· If you’re expecting a bank or credit card statement and it doesn’t arrive, tell your bank or credit card company.

· Don’t leave things like bills lying around for others to look at.

· If you move house, always get Royal Mail to redirect your post.

· Get regular copies of your credit report from a credit reference agency.

· Notify your bank immediately if you see any unusual activity on your account.

Remember, criminals can spoof their number, i.e. they can change their number to be anything they like, such as the number on the back of your bank card.

Caller ID is NOT proof of idenitity.


Your bank, the police, or tax office will never ask you to attend your bank, withdraw, transfer or pay money over the phone or send couriers to collect your card or cash. Nor would they ask you to buy goods or vouchers. This is a scam.


Whenever you get unsolicited contact from a business, take 5 minutes to verify their claims via a trusted method. Never use the number given in an email, text or call.

1. Hang up (Never give details or money following a cold call)

2. Take 5 (Seek a second opinion, tell someone what has happened)

3. Verify (if concerned, contact the company via a pre-confirmed method)

Please help us share this information, tell your family, friends and neighbours as people are still falling victim to these types of fraud.

All of our videos and electronic leaflets can be found on the following link; www.met.police.uk/littlemedia

Always report, Scams fraud and cyber crime to Action Fraud, either online at www.actionfraud.police.uk or by telephone on 0300 123 2040.

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