Financial fraud – beware!

Diligent staff in an Ulster Bank branch in Armagh recently foiled an attempt to defraud an elderly customer of £20,000. Fraudsters, posing as BT, preyed on the elderly woman after she had agreed over the phone to have her WIFI “fixed”. Thankfully, on this occasion, staff at the Ulster Bank branch noticed the suspicious activity when the woman came into the branch and they alerted the PSNI.

Full details of the attempted scam can be read at https://www.bbc.co.uk/news/uk-northern-ireland-46131907

UK Finance recently published the Annual Fraud Update for 2017. It reported that there were 1,910,490 cases of unauthorised financial fraud, amounting to losses of £731.8m last year. It also reported 43,875 cases of authorised push payment scams, amounting to losses of £236m last year. With the emergence of online and telephone banking, customers should take exercise extra caution when asked to provide their financial information.

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