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Types of fraud

Identity fraud

When someone steals your personal details and uses them to commit fraud in your name it is known as 'identity fraud'.

Identity fraud is more common now than you think, it's one of the fastest-growing crimes in UK.

What can fraudsters do with your identity details

  • Open bank accounts
  • Take out phone contracts, loans, credit cards and state benefits
  • Set up new online profiles in your name
  • Take over your existing accounts
  • Obtain genuine documents such as passports and driving licences in your name

 

Protecting your identity

Protecting your identity starts with keeping your personal information safe.

Most of us understand the need to protect our sensitive data – such as passwords, credit card details and other financial information – but we also need to look after “everyday” personal information, like name, date of birth and address. At times, these details can be just as essential to fraudsters.

For example:

  • If someone gets hold of your card details to use them online to buy goods and services, they may also need to know your full name and address.
  • If someone wants to take out a loan using your identity, they may need your date of birth and employment history.

So keeping your personal information safe is very important.

Quick tips to keep your personal details safe:

  • Don't give out your full personal details (such as your bank details, usernames or passwords) by email to us, or anyone else.
  • Don't respond to emails and phone calls without verifying they are genuine.
  • Don’t click on any links or open any attachments in emails or reply to text messages, unless you are sure they are genuine.
  • Limit the information you share/post on social media sites, use privacy settings to control who can see your profile and posts.
  • Check your statement(s) carefully. If anything is incorrect or suspicious with your statements for an account you've with us, let us know as soon as possible and we’ll look into it.
  • Safely keep or destroy documents with your personal or financial details on them by shredding, don't just throw them away.
  • If you move house, re-direct your letters to your new address for at least a year (contact Royal mail for information on their redirection service).
  • Get regular copies of your credit report from credit reference agencies such as Experian, Equifax or CallCredit.

 

Cheque fraud

When someone purposefully gives you a cheque that they know you can’t cash, it is known as 'Cheque fraud'.

Types of cheques used for cheque frauds:

  • Stolen cheques – Intercepted in the post.
  • Altered/tampered cheques – Payee amounts and/or names may have been either altered or the security features of the cheque may have been tampered with.
  • Counterfeit cheques – a completely fictitious cheque.
  • Forged cheques – where the signature on the cheque has been forged.

Things to watch out for:

  • Something suspicious with the way a cheque is written or the look and feel of the cheque.
  • Cheques that are for greater amounts than what you asked for.
  • If you are selling goods online and a potential buyer does not negotiate over the price or doe not ask to view the item they want to buy.

Quick tips to stay safe:

  • Only accept a cheque or Banker’s Draft from individuals you trust.
  • Don't give/provide any goods or services until the cheque has cleared.
  • Do not accept a cheque for a greater amount than is requested.
  • If you have paid a cheque into your account with us, which you believe to be fraudulent, let us know immediately by calling us on 0800 072 1100 or visit us in person at your local branch.
  • Don't pre-sign any blank cheques.
  • Always ensure no spaces are left, if there is space put a line through for no additions.
  • Write clear amounts, include the account holder's name.
  • Report lost or stolen cheque books immediately.

 

Authorised push payment fraud

From 7 October 2024, new authorised push payment (APP) scam reimbursement regulations came into effect. If you make a payment as part of an APP scam, you might be eligible for a refund if you paid using the Faster Payment Scheme or CHAPS, to a UK account. These rules only apply to payments made on, or after, 7 October 2024 and are reflected in our General Terms & Conditions. 

Authorised push payment scams happen when you’re tricked by a criminal into sending money by bank payment to an account they control. If you authorise a payment from your account by CHAPS or Faster Payment and it turns out to be a scam, you can request that the Society reimburses you.

You must tell us as soon as possible and no later than 13 months from the date of the last relevant payment that was authorised as part of the scam.

What is authorised push payment (APP) fraud?

APP fraud happens when someone tricks you into sending money to their bank account.

What should I do if I think I've been scammed?

Contact the Society (or any other institutions involved in the transaction) immediately and tell them what happened. They can help you start a reimbursement claim.

Will I get my money back if I'm a victim of APP fraud?

Yes, in most cases, we’ll reimburse you if you're a victim of APP fraud, as long as you meet the Consumer Standard of Caution. If you're a victim of a scam, we’ll aim to reimburse you within five business days, but for more complex cases this could take up to 35 days.

What is the Consumer Standard of Caution?

This refers to the level of care expected from you when making payments. You’re expected to verify payment details, avoid rushing into payments (following warnings) and recognise red flags (e.g unsolicited requests, urgency or unusual account changes). Always double check the account details before sending money and be cautious of unexpected requests for payments. If you were grossly negligent, you might not get your money back (this doesn't apply to vulnerable customers).

What are the Society’s obligations in APP fraud cases?

We have systems in place to prevent fraud and reimburse you if you're scammed, as long as you meet the claim requirements. The Society's savings are designed to limit your exposure to APP and other types of fraud. We make withdrawals to your nominated bank account, which we have verified as being in your name and under your control.

What types of payments are covered by the reimbursement scheme?

The scheme covers payments made through Faster Payments or CHAPS (up to the value of £85,000). You must also make a claim within 13 months of the payment being made.

For further guidance and requirements, read the Consumer Standard of Caution. - The Consumer Standard of Caution Exception Guidance