Recently I’ve been thinking about scams again, after a family member was almost swept up in the tide of sophisticated attacks that Britons are exposed to on a daily basis.
In a nutshell, she received a text message that appeared to come from her bank – that is, the message on her smartphone appeared in the same series of previous, real messages, including a message about a fraud attempt from the previous year that actually came from was off the bank.
We’ve covered this spoof tactic extensively over the years on our Beat the Scammers channel, but there are plenty of people who are still unaware of this simple trick that gives fraudsters an air of legitimacy.
Currently, she is a bit under the pressure of work demands and other life stresses, so the message came at a point that was perfect for the fraudsters to possibly win.
Please note: much of the correspondence we receive in modern life is now related to scams – and always remember that scammers can use number spoofing software
The person on the other end called the number provided in the message and began completing payments that were obviously not made by her.
Luckily, even though the person on the other end of the line was very professional, she decided to ask for the phone number on the back of her debit card to be called back.
No problem was the answer. But crucially, the family member in question remembered an important piece of advice: don’t call back on her mobile phone, but on her landline.
Often these scammers can keep the line open, meaning a call back simply puts you back in their arms.
When they called the landline, and after some unnecessary hassle at the right bank, they discovered she was in the middle of a scam attempt – and managed to prevent further events.
The reason I mention this is: she has a high-powered job, is smart, and takes no prisoners. She doesn’t fit your ‘usual’ profile that would fall for a scam, just like American journalist Charlotte Cowles who recently wrote a viral piece for The Cut on how she handed over $50,000 to scammers.
Both of the stories above serve as a warning that we are all vulnerable, to varying degrees, depending on our state of mind. Scammers who make these kinds of attempts prey on panic – and often panic kicks all our intelligence out the window.
“It will never happen to me because I would never do something so stupid” is a dangerous misconception.
Personally, I treat absolutely everything – especially out of the blue – with extreme caution and cynicism, but I am not infallible. Emotion can cause us to behave in all kinds of ways that are out of character for us.
This week our senior reporter Angharad Carrick reveals how a business owner was scammed out of £100,000 – and the business account platform involved, Tide, has admitted some mistakes in fixing it but has only returned half the money.
Again, a smart person, but the level of authenticity that the scammers exude is incredibly high: they have honed their craft, they know how to hook people and then attack them without a care in the world.
Last week our sister title Money Mail reported on romance scams – and how a husband was left powerless when his wife entered into several online relationships and handed over £100,000 for their grandchildren’s inheritance.
The number of criminals trying this tactic is enormous. They thrive on those who are lonely, vulnerable and eager to get attention.
I also worry about how vulnerable we make ourselves in other ways. For example, I’ve noticed that people are becoming more careless when using smartphone unlock pins.
It’s easy for a criminal to then take your phone and use your PIN to access all kinds of information – and even worse if you’re someone who uses the same PIN for your debit card and/or app banking.
The This is Money team recently heard that these types of stories are becoming more common.
There’s also the approaching era of artificial intelligence, which can mimic voices and behavior. There’s no doubt that a gang of criminals will figure out how to turn it into a scam.
I’m not trying to scare you, but more of an annual reminder to educate yourself. That’s why we’ve had our Beat the Scammers channel for almost a decade. That we arm you with as much knowledge as possible – and share this knowledge with friends, family, colleagues, your hairdresser and anyone who will listen.
There are old scams that have been around for years and are adapting and evolving – including Deputy Editor Helen Crane who reported last week on fraudsters posing as hotels on Booking.com’s official messaging service – and newer scams that have you on the must be aware of.
I’m not trying to scare you, but more of an annual reminder to educate yourself.
That’s why we’ve had our Beat the Scammers channel for almost a decade. That we arm you with as much knowledge as possible – and share this knowledge with friends, family, colleagues, your hairdresser and anyone who will listen.
You never know, that little piece of knowledge shared could help someone keep their savings safe. Luckily that happened to my relative.
Scams have become a problem that costs us billions of euros every year, and although action is promised, it seems that the problems are still increasing.
So my advice? First, treat all telephone correspondence – especially text messages – with caution and a clear mind. Please note that these scammers can spoof numbers to make messages appear in a genuine correspondence thread.
Second, always try to stay one step ahead.
Our reporter Harvey Dorset – working with consumer group Which? – has exclusively listed the five scams you’ve probably never heard of, but should keep an eye out for this year.
This includes spear phishing, tapjacking and deepfake videos. No idea what I’m talking about? Well, give it a read – it might be the wisest five minutes you spend this year.
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