Welsh Government's Announcement and Fraud Warning
Welsh Government's Announcement
As you will no doubt be aware, for at least the next two weeks in Wales we will see tighter restrictions and advice to work from home where possible. We will be following this advice and the only disruption to the services that we provide to you will be in terms of how best to get in contact as we will all be at different locations; for simplicity we would ask that you either leave a message using the office number 02920 641188 or email us directly. As both messages and emails will be checked throughout the day we will be able to call you back at the earliest opportunity. It is important that you are aware that regardless of whether these restrictions are extended, the advice, monitoring and recommendations relating to your financial plans and objectives that we provide will continue as normal.
Facts about fraud and cyber crime
The lack of social contact and restrictions on our day to day lives means that we are all more active digitally and remotely which is in turn increasing the risk we face from fraud and cyber-crime – here is some advice of how you can protect yourself.
The 2019 Financial Cost of Fraud report estimates the cost of fraud to the UK is between £130bn - £190bn a year. The Office for National Statistics (ONS) say that people are more likely to fall victim to fraud or cyber offences above any other crime.
Between April 2018 and March 2019 there were:
- 741,123 crimeswere reported to Action Fraud. We were surprised to learn recently that suspected scams are not recorded unless a complainant records a loss.
- £2.2bnlost by victims.
- 65%of reports were from businesses and 35% from individuals.
What you can do to try and prevent Fraud
Please find below a list of helpful tips from Action Fraud:
Do not give any personal information (name, address, bank details, email or phone number) to organisations or people before verifying their credentials.
- Always question unsolicited calls, texts or emails requesting your personal or financial information (name, address, bank details, email or phone number). Instead, contact the company directly using a known email or phone number.
Make sure your computer has up-to-date anti-virus software and a firewall installed. Ensure your browser is set to the highest level of security and monitoring to prevent malware issues and computer crimes.
- Always install the latest software and app updates on all of your devices. Protect your email account with a strong, separate password and enable two-factor authentication (2FA) where possible.
- Installing, or enabling, antivirus software on your laptops and computers will protect them from viruses and hackers.
Many frauds start with a phishing email. Remember that banks and financial institutions will not send you an email asking you to click on a link and confirm your bank details. Do not trust such emails, even if they look genuine. You can always call your bank using the phone number on a genuine piece of correspondence, website (typed directly into the address bar) or the phone book to check if you’re not sure.
- Never automatically click on a link in an unexpected email or text.
- Remember, email addresses and phone numbers can be spoofed, so don't use those as a means to verify that a message or call is authentic.
- The best way to get in touch with a company is to use a known email or phone number, such as the one on the back of your bank card.
Sign-up to Verified by Visa or MasterCard Secure Code whenever you are given the option while shopping online. This involves you registering a password with your card company and adds an additional layer of security to online transactions with signed-up retailers.
- Layer up your protection. When shopping online, always check the web address to make sure you are on the correct site and sign-up to Verified by Visa or MasterCard Secure Code whenever you are given the option.
You should regularly get a copy of your credit file and check it for entries you don’t recognise. Callcredit, Equifax and Experian can all provide your credit file. An identity protection service such as ProtectMyID monitors your Experian credit report and alerts you by email or SMS to potential fraudulent activity. If it's fraud, a dedicated caseworker will help you resolve everything.
- You should regularly get a copy of your credit file. Callcredit, Equifax, Experian, ClearScore and Noddle can all provide you with a copy. If you spot anything suspicious, make sure your report it as soon as possible.
- If you have been affected by a data breach that leaked your personal or financial details, monitor your credit file and bank accounts regularly for any unusual activity.
- An identity protection service such as ProtectMyID monitors your Experian credit report and alerts you by email or SMS to potential fraudulent activity. If its fraud, a dedicated caseworker will help you resolve everything.
Destroy and preferably shred receipts with your card details on and post with your name and address on. Identity fraudsters don’t need much information in order to be able to clone your identity.
If you receive bills, invoices or receipts for things that you haven’t bought, or financial institutions you don’t normally deal with or contact you about outstanding debts, take action. Your identity may have been stolen.
- Stay in control, destroy your receipts and posts with you name on. If you receive a bill, invoice, or receipts for things you haven’t brought or normally deal with, take action. Your identity may have been stolen.
Be extremely wary of post, phone calls or emails offering you business deals out of the blue. If an offer seems too good to be true, it probably is. Always question it.
- Listen to your instincts and be wary of unsolicited calls, emails or online ads offering deals that sound too good to be true.
- Genuine banks, or other trusted organisations, won't pressure you into making a financial transaction, if something feels wrong then it's usually right to question it.
If you have been a victim of fraud, be aware of fraud recovery fraud. This is when fraudsters pretend to be a lawyer or a law enforcement officer and tell you they can help you recover the money you’ve already lost.
If you need advice about fraud or cyber-crime get in with Action Fraud on 0300 123 2040 or www.actionfraud.police.uk/contact-us