Businesses warned to be alert to new banking telephone scam

The Council’s Trading Standards Team is advising of a banking telephone scam reported to be targeting businesses in particular.

The fraudsters are using new approaches in an attempt to catch businesses off guard. They will call claiming to be a member of bank staff, indicating that there’s been suspicious transactions appearing on your business account. They’ll claim to be calling to make sure that any fraudulent transactions don’t go through.

Fraudsters can make the call appear to be coming from a familiar bank telephone number, so it looks genuine on your incoming caller ID. If they have previously obtained debit or credit card details from a business, another tactic used is to submit an online card transaction, for example ordering a takeaway pizza to a different address, knowing the bank will decline it, but also knowing that it will trigger a ‘declined card transaction’ text message from the bank to the business. Fraudsters then claim to be the bank on the phone, following up on the text message about the attempted card fraud.

They may ask for online banking card reader details which they will tell you is to prevent fraudulent payments, or they’ll say you need to transfer funds into what they will say is a new ‘safe account’ set up for your business, one which in reality is fraudulent.

Sometimes they will tell you to visit a specific webpage URL, or click on a link they send to you, which downloads remote access software to your PC. This software enables them to control your PC, or view passwords and card reader codes you input on screen, which they can use to steal your business funds.

In some cases, callers can instruct you to make payments to an existing beneficiary which they claim will help ‘protect’ your funds, but the fraudster then contacts that beneficiary to persuade them to send the funds to a different account they control.

Remember -

• always verify a caller independently;
• banks will never ask for card reader codes over the phone, via email or text;
• you should never log on to online banking, visit a website, download anything or divulge what is on your screen to anyone who calls out of the blue.
• always log into online banking via the bank’s known website;
• banks will never tell you to make a payment to one of your existing beneficiaries, or a safe account to protect your funds.

If your business receives a scam call, end the call immediately and call your bank independently.

Suspected scams can be reported, or free and confidential advice sought via the Council’s Trading Standards on 01856 873535 or trading.standards@orkney.gov.uk ; Police Scotland on 101. You can also contact the Orkney Scam Action Group via Messenger or at their Facebook page.