Types of fraud to be aware of

There a number of scams in operation where fraudsters target individuals via websites, social media, email, phone or text.

Impersonation fraud

Fraudsters can impersonate someone you know or a high-profile company through unauthorised use of its branding. They try to gain your trust and then trick you into sending them money or buying what is purported to be a real product or service but is fake. Investment products and services are often used for impersonation fraud through fake websites and social media posts.

Email fraud

This is where fraudsters send fake emails masquerading as a legitimate company or individual. These emails typically have a sense of urgency associated with them requiring immediate action asking the recipient to “verify”, “update” or “reactivate” their account.

Phishing

Phishing is a type of email fraud where you might receive an "official looking" email asking you to return sensitive information by email, or ask you to click on a link to visit a page where you will be asked for personal information.

These scams can be very sophisticated and often the emails are indistinguishable from genuine emails. Some things to look out for include:

Any part of an email can be faked, including the ‘From’ address, text, any links and any attachments.
Phishing emails usually have a “call-to-action”, i.e. an urgent request requiring to take immediate action.
Emails offering financial products with high rewards which seem too good to be true.
The language used in phishing emails can often be unprofessional.
The phisher almost always wants your username and login details, or financial account details.
Some phishing emails attempt to install viruses on your device. If you see a request to install software, ignore it.

Telephone frauds

Another common way for fraudsters to target potential victims is by phone or text pretending to be from a reputable organisation or acting on behalf of an organisation. There are a number of telephone-based scams in operation.

Smishing

This Smishing, a combination of the words SMS and phishing, is a scam where fraudsters use text messages to trick you into opening a malicious attachment or a link, which when clicked on directs you to a fraudulent login screen to enter your account details. It can also download malicious software (mobile malware) on to your phone. The fraudster then uses the information you have entered to access your account and carry out unauthorised transactions.

Vishing

Vishing, a combination of the words voice and phishing, is a scam where fraudsters use text messages to trick you into opening a malicious attachment or a link, which when clicked on directs you to a fraudulent login screen to enter your account details. It can also download malicious software (mobile malware) on to your phone. The fraudster then uses the information you have entered to access your account and carry out unauthorised transactions.

Spot the warning signs

Unexpected content – traditionally scammers cold-call but contact can also come from online sources, e.g. email or social media, post, word of mouth or even in person at a seminar or exhibition.
Time pressure – they might offer you a bonus or discount if you invest before a set date or say the opportunity is only available for a short period.
Social proof – they may share fake reviews and claim other clients have invested or want to take up the deal.
Unrealistic returns – fraudsters often promise tempting returns that sound too good to be true, such as much better interest rates than elsewhere. However, scammers may also offer smaller, more realistic returns to seem legitimate.
False authority – using convincing literature and websites, claiming to be regulated, speaking with authority on investment products.
Flattery – building a friendship with you to lull you into a false sense of security.
Remote access – scammers may pretend to help you and ask you to download software or an app so they can access your device. This could enable them to access your bank account or make payments using your card.

Davy UK staff will never ask you for your username or password over the phone, and if you receive such a request please notify Davy UK at +44-2890-310655.

We only use @davy.ie email addresses to engage with you (or @davyuk.com for Davy UK).

If you are ever in doubt about whether a communication from Davy UK is genuine please contact us on +44-2890-310655.

Email us at belfast@davy.ie

Go to https://davyuk.co.uk/security-centre