z-kolkiemz-kolkiem

Take Five Week – 13 to 17 September 2021

Take Five Week aims to keep you safe from cyber fraud and scams. Remain vigilant and remember to stop, challenge, protect!
Published 13 September
3 mins

Public warned of surge in impersonation scams as cases more than double

  • New research finds that nearly one in four people find it hard to say ‘no’ to requests from a stranger on the phone
  • Take Five to Stop Fraud campaign urges people to Stop, Challenge, Protect when asked for their information or money

At the start of Take Five Week (13-17 September), the public is being warned about the increase in fraudulent calls, texts and emails as new figures from UK Finance show the number of impersonation scam cases more than doubled in the first half of 2021 to 33,115. These scams resulted in criminals stealing £129.4 million through this type of fraud alone over this time. In the same period last year there were 14,947 impersonation scam cases which led to £57.9 million being stolen.

 

In an impersonation scam, a criminal pretends to be from a trusted organisation such as a bank, the police, a government department or a service provider. The criminal then tricks their victim into transferring money using a range of cover stories. These include claiming they need to protect an account from fraud, that a fine or tax needs to be paid or an erroneous refund must be returned.

Too polite to say no

The rise in impersonation scams comes as research for the Take Five to Stop Fraud campaign finds that nearly one in five (19 per cent) of people feel uncomfortable saying ‘no’ to a request for personal information from a stranger via email or text, rising to almost a quarter (23 per cent) when it comes to phone calls.3 This could leave them at risk of an impersonation scam.

 

Overall, 92 per cent of people admit to saying ‘yes’ because they don’t want to appear rude. The research found that people use all sorts of phrases to avoid saying ‘no’, with the most popular being ‘I’m not sure’ (used by 37%), followed by ‘I don’t think so’, ‘Let me think about it’, and ‘I can’t at the moment’ (all 34%) and this can give criminals a way in.

To help people stay safe, the Take Five to Stop Fraud campaign advice is to:

  • STOP: Take a moment to stop and think before parting with your money or information could keep you safe.
  • CHALLENGE: Could it be fake? It’s ok to reject, refuse or ignore any requests. Only criminals will try to rush or panic you.
  • PROTECT: Contact your bank immediately if you think you’ve fallen for a scam and report it to Action Fraud.

The impersonation scams data are the first published figures from UK Finance’s half-yearly fraud report, which will be published later this month.

 

Tony Blake, Take Five fraud expert, said:

 

“Criminals are experts at pretending to be someone they are not – and can fool even the savviest of people, who don’t want to seem rude”.

 

“If someone contacts you unprompted and asks for personal or financial information, stop and take a moment to think – even if they claim to be from an organisation you trust. Only criminals will put pressure on you to act quickly. Remember it’s ok to say no and contact the organisation through a route you know to be genuine”.

 

“The banking and finance industry works to tackle fraud on every front, through investing millions in advanced technology and working closely with the government and law enforcement to stop the criminal gangs responsible”.

For more tips on how to protect yourself from fraud, visit our fraud protection page.

Access our cyber security insights

Take Five Week - 13 to 17 September 2021

13 Sep

   |   3 mins

Take Five Week aims to keep you safe from cyber fraud and scams. Remain vigilant and remember to stop, challenge, protect!

Webinar: fraud and cybercrime

4 May

   |   31 mins

During a 30 minute update, we looked at the types of scams that fraudsters and cybercriminals are currently running and how people are far too easily duped.

Attack of the clones and other investment stories

4 Mar

   |   2 mins

Criminals have been quick to exploit the current pandemic and economic situation with ever more sophisticated scams. These include a significant number of frauds targeting investment clients.

Our top 10 cyber security tips

19 Nov

   |   30 mins

The coronavirus pandemic has led to even higher levels of hacks and scams. We talked through 10 areas of cyber security to help you remain securer online, as well as flag some of the measures Nedbank Private Wealth has in place to protect clients' assets.

Get in touch

If you are interested in becoming a client, please complete the form via the ‘become a client’ button below. Alternatively, if you are already a client, or if you have a question about how we help clients in particular circumstances, please use the ‘contact us’ button.


We will get back to you as soon as we can during office hours, which are Monday to Friday, 8am to 8pm (UK time), except for UK public holidays.

Become a Client

Thank you for your interest in Nedbank Private Wealth. Please call us on +44 (0)1624 645000 or complete the requested information and one of our team will get back to you soon. We look forward to speaking with you.  Please note: If you are an EU resident, we are unfortunately unable to offer our services to you at present.

* Required fields

Contact Us

Please call us today on +44 (0)1624 645000. Our office hours are weekdays from 8am to 8pm (UK time), except for UK public holidays.

 

Or please complete and submit the below form and one of the team will get back to you as requested.

* Required fields

Search suggestions