Bank card fraudsters are using creative new tactics to trick consumers into handing over their account details, a new report from Financial Fraud Action claims. Over £216m was stolen from credit and debit cards by fraudsters and criminal gangs in the first six months of the year – a 17 per cent increase since the first half of 2012.
Scammers are using creative and daring tricks to con consumers into giving up their account information. Some con artists have disguised themselves as police officers, using the confidence acquired by their deceit in order to pry account information from bank customers.
Other fraudsters have impersonated bank staff, fraud investigators, and officials in targeted phone calls in order to take advantage of consumers. Bank fraud related to telephone marketing and online shopping has increased a staggering 23 per cent in the first six months of the year.
ID theft has increased by 24 per cent, and ‘card cloning’ has increased by 15 per cent as a growing number of consumers are affected by aggressive efforts to steal access to their credit card information. Many thieves are using ‘shoulder surfing’ to scope out potential victims and steal account information as they use cash machines.
Experts believe that criminals are becoming increasingly dependent on low-tech forms of fraud as consumers and banks become more aggressive at responding to online scams. Many now use advanced sales and persuasion tactics to encourage their victims to give out account information voluntarily over the phone or email.
Detective Chief Inspector Dave Carter claims that the move towards low-tech crime indicates that consumers need to ‘know how they can protect themselves.’ Mr Carter recommends that consumers protect their PIN by shielding their hands when using cash machines and point of sale card readers.
