The potential for banking fraud

The potential for banking fraud

The potential for banking fraud

You may have heard about several banks in the UK ‘ring-fencing’ their accounts. Almost one million banking customers will have been contacted by their banks, informing them of changes to their account number and sort codes.

The process of ring-fencing accounts and changing account numbers and sort code will be taking place between now and the 1 January 2019. (Source -

This is a prime time for fraudsters to strike with banking fraud scams. We all need to be on our toes to ensure that no body falls foul to any attempted cons.

Here at Wosskow Brown Solicitors, we are NOT changing our banking details.

Our advice to anyone involved in a financial transaction is:

  • Always be on your guard
  • If you are notified of a change of account details, contact the person/company you are paying via a known number to verify the change of details – don’t rely on email.
  • Beware of cold-callers claiming to be from your bank. It’s very easy to be caught out in an unexpected call. If you are unsure, call your bank using the phone number on your bank card or statement, and if possible from another phone line to ensure you’re not reconnecting with a fraudster that has just called you.
  • Beware of what information you give out on any calls or emails. Your bank will never call or email you asking for personal information, account details or the PIN for your bank or credit card. You will never be asked for your PIN when making a payment over the phone.
  • Take your time. Crooks will try and use urgency to pressure you into making the wrong decision, take your time and think carefully about what is being asked of you.

We have our client’s best interests in mind, and we always take financial security seriously. If you have any doubts or concerns, please talk to us.

Our doors are always open to you, whatever your problem… please feel free to come and talk to one of our specialists…

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