Financial Fraud Action UK (FFA UK) has released new fraud intelligence highlighting the growth of a phone scam in which fraudsters are targeting individuals to deceive them into revealing personal and financial information - or make payments into the fraudster's account.
FFA UK has seen an overall increase of £36m across remote banking and remote purchase (telephone and online), account takeover, and application fraud in the last financial year. Early estimates indicate that at least £7m worth may be attributed to the scam, called ‘vishing'. Vishing involves a fraudster making a phone call to a potential victim, posing as someone from a bank or building society fraud investigation team, the police or another legitimate organisation such as a telephone or internet provider. They attempt to obtain financial information which often includes credit/deb...
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