With the scams happening in every tiny part of this technological world, even banks are not spared.
FREMONT, CA: With the payment methods becoming increasingly digitalized, bank scams are also extremely high. The is a wide array of scams used by fraudsters to part account holders from their cash, which involves forged phone calls, bank cards, fake emails, and ATMs.
In 2018, unauthorized card payments accounted for 56 percent of all banking scams, which was followed by remote banking at 12 percent, authorized scam at 30 percent with bank checks responsible for 2 percent of the scam.
Nevertheless, a loss of £1.2bn is not a small amount. It is something serious that needs to be avoided, and every customer needs to be aware of.
1. Bank transfer scams
These are considered the most common banking scam which involves users that transfer money from their own bank account.
In this kind of scam, the customer receives a phone call from a fake bank person alerting them regarding a security or technical problem related to their account.
The forged person asks users to transfer all the money into a secure account until the issue is resolved. Once the transfer is made, the funds are immediately salted away to other accounts around the globe.
In forged emails or phishing scams, the scammers usually make use of a trusted enterprise, such as the customer’s bank, for winning thei ..
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