Purchase scams, impersonation scams and investment scams are the three most common types of fraud that HSBC UK has reported seeing recently.
The bank also said it has revamped its free HSBC fraud and cyber awareness app, which is available for people to download regardless of whether they are customers.
The app provides warnings about new scams being spotted as well as information on recognising and reporting scams.
David Callington, HSBC UK’s head of fraud, said: “We are able to give real-time warnings through push notifications, information and education, to help more people protect themselves and their hard-earned money from these criminals.”
The bank also said more than 3.5 million customers have subscribed to its Voice ID technology, using their voice as their telephone banking password. Voice ID has identified 50,000 attempted telephone frauds since it was introduced in 2016.
With the cost of living sky-high, it’s no surprise people are lured in by schemes promising low risk for high returns
David Callington, HSBC UK
HSBC UK highlighted the three most common scams it has seen across cards and payments in the six months from November 2021 to April 2022:
1. Purchase scams
Fraudsters tricking shoppers into paying in advance for goods or services that are never received was the most common type of scam by volume, according to HSBC UK’s records.
The bank said it is noticing an increase in purchase scams involving falsely advertised vehicles online.
Some involve fake…
