Whether it's get-rich-quick schemes or a bargain from an unknown seller, the rising cost of living is forcing many consumers to seek alternative ways of saving or making money
Whether it's get-rich-quick schemes or a bargain from an unknown seller, the rising cost of living is forcing many consumers to seek alternative ways of saving or making money.
Tactics employed by money mules include sending funds ‘in error’ which people are asked to return to a different bank account, asking people to apply for credit or bank cards on behalf of someone else, or convincing people to move money sent to their account as a ‘favour’. Over the same period, credit and debit card ID theft cases more than doubled and losses increased by 86 per cent, totalling £21.4 million. Scammers who steal cards will use the details to forge documents and will either apply for a card in the victim’s name or take over their existing account.
Fraudsters are aware of this extra layer of protection, and at the beginning of this year researchers at mobile security firm Pradeo discovered a fake app called ‘2FA Authenticator’ on Google Play, which was downloaded more than 10,000 times before it was removed. 4. Calls or texts from your bank A common technique deployed by fraudsters is to imitate - or ‘spoof’ - legitimate companies, especially banks. A recent Which? investigation found that phone numbers at six major banks could be spoofed, potentially leaving customers at risk of being defrauded.
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