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Barclays has escalated its efforts to protect its customers by issuing a stark warning on June 5, highlighting the ongoing financial scams which have been stealing money from some account holders. The bank utilised Facebook to send out a ‘red flag’ alert to its members, urging them to be vigilant of signs that could signal scam attempts to safeguard their money.
The latest research from Barclays sheds light on a worrying trend: one in five consumers (18 percent) have been duped by scams over the past year, with an overwhelming 93 percent falling prey online. However, there is a silver lining as two in five (43 percent) were targeted but discerningly spotted the scam in time to save their precious earnings.
Barclays’ Facebook message was direct: “Can you spot the 4 red flags in this accommodation advert? #TakeFive.” The bank further guided customers: “Click the link for more fraud and scams info: https://www.barclays.co.uk/fraud-and-scams/.”
Accompanying the post was a video portraying a deceptive holiday accommodation offer, boasting a ‘five-star seaside and luxury apartment’ at the too-good-to-be-true rate of £29 per night due to a ‘flash sale’, reports Lancs Live.
Barclays leverages this tempting holiday offer as a teachable moment, reminding its members to watch out for ‘red flags’ that suggest an offer is indeed ‘too good to be true’ to avoid the risk of losing money – like many others have. The video challenges viewers: “Can you spot the red flags in this listing in under 10 seconds?”
The first red flag that Barclays highlights is the advert’s fabricated image of a holiday resort, which the bank identifies as “AI-generated or 3D rendered”. The advertisement promises an “entire house” in Malaga, Spain, complete with two bedrooms and two bathrooms.
However, the absence of reviews and customer ratings for the accommodation is another warning sign, according to Barclays. Thirdly, the bank notes that the host ‘Andrea’ has had ‘0 years hosting’, suggesting she could be a bot or a fraudulent owner. Lastly, the price is described by Barclays as simply “too good to be true”.
Top 10 scams based on those who have fallen victim, been targeted or know someone who has:
- Fake delivery scam – 51 per cent
- HMRC scam – 42 per cent
- Purchase scam – 40 per cent
- Online marketplace scam – 38 per cent
- Hello Mum WhatsApp scam – 37 per cent
- Investment scam – 32 per cent
- Advance fee scam – 32 per cent
- Ticket scam – 30 per cent
- Parking scam – 30 per cent
- Romance scam – 30 per cent
Barclays provides advice on its website on how people can avoid becoming victims of online scams. “Anyone can be tricked by a scammer – they change tactics often, and adapt quickly. Did you know a fraudulent transaction happens every 15 seconds in the UK? We’re constantly uncovering new scams,” the bank says.
Barclays will never:
- Tell you to transfer money out of your account to keep it safe from fraud
- Ask for your PIN, PINsentry code, activation code, QR activation code or online banking passcodes
- Ask you to help us with an internal investigation
- Tell you to lie to people who work at the bank about a payment or withdrawal
- Ask you to give us remote access to your device
- Say your money isn’t safe or your account is at risk
- Share details we have about you to convince you it’s us
- Send a courier to your house to pick something up
- Text you with a link to make a payment
- Object to you checking any communication from us is genuine – we’ll be pleased you’re vigilant!
Things scammers often do:
- Convince you that your money isn’t safe or your account is at risk
- Create elaborate stories about why you need to do something, such as pretending to be a family member who has lost their phone
- Use ‘authority’ to gain your trust – for example, say they’re from HMRC or a well-known company and you need to make an urgent payment
- Pressure or worry you, or say that you could get in trouble or be arrested
- Say you need to move money out of your account due to a fraud investigation
- Tell you to lie to people who work at a bank about why you’re making a payment
- Ask you to make a payment in your app or Online Banking, and tell you which payment type to choose – for example, saying you need to choose ‘Friends and family’ or say you don’t need to read the warnings
The ‘take five’ approach
A statement on Barclays’ website reads: “We’re teaming up with UK Finance, who’ve launched their ‘Take Five to Stop Fraud’ campaign to help keep you safe from fraud and scams. Following these steps can help protect you and your money.”
The first step is to “take a moment to stop and think before giving out your personal or payment details.” Secondly, question the authenticity with a healthy dose of scepticism. The bank advises: “It’s okay to reject, refuse or ignore any requests you think seem suspicious – only criminals will try to rush or panic you.”
The guidance for the third step is clear: “If you believe you’ve been targeted by scammers, report it to Action Fraud on 0300 123 2040 or at action fraud.police. UK. If you’re in Scotland, please report it to Police Scotland directly by calling 101.”
How to report suspicious messages and QR codes
“Please report any email, text message or QR code that looks like it might be a scam. This helps us and other organisations find and remove fraudulent websites,” Barclays says. You can:
- Email us at internetsecurity@barclays.com with the details of any suspicious emails, text messages or QR codes.
- Forward suspicious emails to the National Cyber Security Centre at report@phishing.gov.uk.
- Report suspicious or unwanted text messages to your mobile provider by forwarding them to 7726 for free.
