Major banks fail to protect customers from spoofing fraud
In a recent test carried out by Which?, fourteen phone numbers found on the back of bank cards or listed as fraud helplines were chosen and ‘spoofed’. They successfully impersonated HSBC, Lloyds Bank, Nationwide, Santander and TSB via phone and text, leaving customers at risk of these sophisticated attacks.
This is despite Ofcom having recently strengthened its rules and guidance to require telephone networks involved in transmitting calls to identify and block spoofed calls.
A spokesperson for trade association UK Finance commented: "To help stay safe, customers should always follow the advice of our Take Five to Stop Fraud campaign and question any uninvited call requesting their personal information or money in case it's a scam.”
To make impersonation more difficult for fraudsters, businesses can join regulator Ofcom's Do Not Originate (DNO) list. This is a shared resource with carriers to help identify and block potentially spoofed calls.
As a Bira member, you have access to a wide range of financial and legal advice. Join a community of thousands of independent retailers across the UK today.
Share your views across our social media here:
Facebook
Twitter
LinkedIn
Instagram
Visit the Hubs to see our resources!
Sustainability Hub
Finance Hub
Product Buying Hub
Sales and Marketing Hub
GDPR Hub