Beware of Scam Messages
Last year, we highlighted the issue of fraud and talked about the importance of keeping you and your loved ones safe from fraud and other financial scams.
We support ‘Take Five’, which is a national campaign that offers straight forward, impartial advice to help everyone protect themselves from preventable financial fraud. This includes email deception and phone based scams as well as online fraud, particularly where criminals impersonate trusted organisations. You can find out more at https://www.takefive-stopfraud.org.uk/
One of the more recent development in scams are those undertaken whereby the scammer is purporting to be a family member or friend, and using messaging apps, such as WhatsApp to contact their victims.
As messaging outlets like WhatsApp become used by more and more to stay in touch, it’s becoming an increasingly common way for fraudsters to extract funds from people who are going to be keen to help someone close to them.
Typically, the scammer will claim to be a family member or friend and pretend they need help with an unexpected bill such as their car having broken down and they need to pay the garage or risk not being able to get into work. Alternatively, they may claim that they need to snap up a bargain, which they will miss out on if they don’t have the money today.
They play on people’s emotions and push the urgency of the request and try not to give you time to think.
According to a 2021 survey by WhatApp, 59% of UK adults have received or know someone who has received a message based scam in the last twelve months1.
Our advice is as follows:-
- Step back and think – Don’t immediately act
- Always verify – Always call back the person you think it is on the phone number you already have for them. If you can’t see them in person, phone to check and make sure that it is the person you know
- Is the request realistic? For example, you might be told that their old phone has been broken or stolen which is why they are calling on a number with which you are not familiar. You might also be asked to pay money into a different bank account than the one you are used to. In both cases how likely is it that your family member or friend had lost or had their phone stolen or in the case of a new bank account, lost access to their account or changed banks without mentioning it before.
- Ask someone else. Check with someone you trust and ask their opinion of the request.
Lastly, check in with elderly relatives and make sure they are aware of the dangers of message based scams. They are more likely to believe someone claiming to be a grandchild or a friend.
Article supplied by SJ Financial Solutions - Stuart Mosley
Stuart Mosley (CeFA, CeMap, CLTM) founded SJ Financial Solutions in June 2005 having spent 12 years with big corporates such as Halifax and Santander. He felt the personal touch and straight speaking was missing from mortgage and protection services and set up SJ Financial Solutions to change this. If you would like to get in touch, please see contact details here.
Sources
1 – Nationwide (2022) Have you been messaged by a scammer?. Available at: https://www.nationwide.co.uk/news-and-stories/whatsapp-scams/ [Accessed 24 January 2023]
All the information in this article is correct as of the publish date 26 January 2023. The opinions expressed in this publication are those of the authors. The information provided in this article, including text, graphics and images does not, and is not intended to, substitute advice; instead, all information, content and materials available in this article are for general informational purposes only. Information in this article may not constitute the most up-to-date legal or other information.
Published: 27 January 2023
