HSBC (HSBA.L) has warned its customers about fraudsters who are continuing to target people through a variety of methods.
The bank said investment scams were leading the losses compared to any other type of fraud. This has seen customers lose £14,173 on average.
Investment scams often involve customers being tricked to purchase fake bonds or cryptocurrency, HSBC said.
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.
It said the app gives users warnings about new scams being spotted as well as information on recognising and reporting scams.
“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,” David Callington, HSBC UK’s head of fraud, said.
Investment, impersonation and purchase scams were the most common types of frauds seen across cards and payments in the six months from November 2021 to April this year. Here’s what customers should look out for:
How to avoid being scammed
Experts have warned customers to look out for offers that appear to be “too good to be true”.
Callington said: “With the cost of living sky-high, it’s no surprise people are lured in by schemes promising low risk for high returns. The general rule is that…
