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Greenwich Borough Cyber Crime Summary – September 2019
In September 2019 there were 160 reports were made to Action Fraud costing a total of £751,962; an average of £4,700 per report. (There was one report by a victim claiming to have lost £430,000)
The top 3 by volume (number of reports) type of fraud is as follows;
Online Shopping Fraud
31 reports £16,577 lost
Miscellaneous 19 Reports £6,430 lost
Banking Fraud
16 reports £22,227 lost
The top 3 by amount reported lost:
Share Sales£478,346 lost 2 reports
Investment Fraud £109,290 lost 9 reports
Consumer Fraud £68,878 lost 14 reports
Online Shopping
Victims are convinced into paying money for items that don’t exist or are counterfeit when shopping online. E.g. fake adverts on eBay.
• Stay on the website - follow procedure / terms and conditions.• Never use direct bank transfers – use the websites recommended payment methods.• Be wary of last minute changes to delivery address or payment method. (check website terms and conditions)• A common scam is when the fraudster ‘overpays’ you and asks for money back, be wary of anything unusual when shopping online.• Never buy a vehicle without seeing it in person and checking its documents.• When selling items, best practice is send via recorded delivery.• Research the seller/buyer and bidding history- check reviews of websites/sellers.• Seek advice from the website if unsure.• If selling, be wary of emails stating funds have been transferred, a common scam is when a spoof email is sent claiming funds have been transferred – Always check via the official website.• Don’t click on links in emails – always go via the official website.• And remember if something appears too good to be true then it probably is!
Please see our animation for more details; https://www.youtube.com/watch?v=Y-_wPFXK2m4
Consumer fraud is commonly defined as deceptive business practices that cause consumers to suffer financial or other losses. The victims believe they are participating in a legal and valid business transaction when they are actually being defrauded. Fraud against consumers is often related to false promises or inaccurate claims made to consumers, as well as practices that directly cheat consumers out of their money.
• Research the company before purchasing goods or services.• Use trusted, reviewed companies.• Avoid using direct bank transfers when purchasing items online, instead use a credit card.
Please see our video for more details; https://www.youtube.com/watch?v=O1tktyF0-Tg
Banking Fraud
Bank account fraud has occurred if transactions you haven’t authorisedappear on your bank statement.
Bank account fraud could happen as a result of identity theft, when bank cards or 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 financial paperwork unattended in view of others.• If you move house, always arrange for Royal Mail to redirect your post.• Obtain regular copies of your credit report from a credit reference agency.• Notify your bank immediately if you see any unusual activity on your account.
Investment / Share sales Fraud Victims are pressured into making ‘investments’ or buying shares that don’t 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 are interested.4. Unrealistic returns – Fraudsters often promise tempting returns that sound too good to be true, such as 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.
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 identity.
Your bank, the police, tax office, or any other legitimate organisation 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.