More and more people are moving over to online and phone banking due to the current pandemic. Criminals have become wise to this and are sending out thousands of scam text messages every month to extract important personal information designed to access their potential victim’s finances.
To spot these fraudulent text messages, take a good look at them. Most are designed to instil a sense of panic (‘request was created from an unrecognised device’). After the sense of panic, the text message gives you way to solve the problem (‘Cancel this request via:’). The solution will lead you to a fake website, which looks a lot like your bank’s website, and instruct you to enter your details. Once this is done, they can now access your bank account.
You can report these text messages to your network provider by forwarding them to 7726. If you think you have been scammed, contact your bank immediately and report to Action Fraud on 0300 123 2040.