Security Centre

Courier card scams involve fraudsters tricking clients into handing over their bank card(s) and PIN(s) by pretending to be either a Bank or Law Enforcement official. Coutts, or any other bank and the police, will never request to collect your card or ask you for your PIN.

Often this will start with an unexpected phone call from an individual who claims to be from the Bank’s fraud department or law enforcement. The caller will advise that they have identified fraudulent transactions on your account and that your card has been compromised.

To gain your trust, the caller will prompt you to verify the call by phoning the telephone number printed on the back of your card or providing you with an unverified telephone number. However, fraudsters often use techniques to hold your phone line open, so that when you try to dial out they can intercept and re-answer the call.

The fraudster will advise that your bank card(s) must be collected in order to protect your card and/or account and assist with any investigation. They will normally ask you to put your card into an envelope and then ask you to either key your PIN via the phone keypad or to write it down and insert it into the envelope with the card.

The fraudster will then arrange for a courier or someone dressed as a law enforcement officer, to come to your home and collect the card and provide you with a fake reference number. Once the fraudster obtains your card(s) and PIN(s), they can gain access to your account and carry out fraudulent transactions.

Please note that from time to time the bank may genuinely call you for fraud prevention purposes to verify whether a transaction is genuine. However, we will NEVER ask to collect your card as part of a fraud investigation or ask you to disclose your PIN, card details or any online banking credentials.

Phishing is a method used by fraudsters to access valuable personal details, such as usernames and passwords which can have a monetary value to criminals.

Phishing can also involve sending malicious attachments or website links in an effort to infect computers or mobile devices (this is known as malware - malicious software). Very often these appear to be authentic communications from legitimate organisations. Embedded links within the message can direct you to a hoax website where your login or personal details may be requested. You may also run the risk of your computer or smartphone being infected by viruses.

Once your personal details have been accessed, criminals can then record this information and use it to commit fraud crimes such as identity theft and bank fraud.

Phishing messages generally try to convince the recipient that they are from a trusted source.
 

Spear-phishing

This technique is used by criminals to use personal information to earn trust and lower the intended victim’s defences increasing the chances they may open attachments or embedded links.
 

Reporting suspicious emails

If you have received a fraudulent or suspicious email, and not responded to it please forward the email to phishing@coutts.com

However, if you have responded to the e-mail, and/or you suspect that any of your accounts with us have been accessed online by someone other than yourself, please contact our dedicated fraud team immediately on 020 7770 0011. All calls with Coutts are recorded for training and monitoring purposes.

This type of fraud predominantly targets businesses but individuals may still be targeted, especially those who buy and sell items online. Overpayment fraud is when a fraudster pays for goods or services by a fraudulent cheque. The cheque is made for a higher amount than the actual value.

The business reimburses the fraudster with the excess amount of money that was apparently paid to it in error, before the cheque gets returned unpaid.

Not only does the business not get paid for the goods or services, but also loses further money because of the ‘excess payment’ it paid the fraudster.

Cheque overpayment fraud is often a method used in employment opportunity scams or transactions for goods and services sold through classified adverts.

How to protect yourself against card fraud

• Always shield your PIN when using a cash machine or while making purchases.
• Try to use cash machines inside bank branches where possible.
• If your card is taken by a cash machine call Coutts 24 straight away. Your card may have been taken by a cash machine due to a fault but occasionally fraudsters will attach card trapping devices to cash machines. Once you leave the machine the fraudster will remove the card from the slot. Coutts 24 will cancel your card straight away, order your new card and endeavour to ensure that you have access to cash if needed.
• When purchasing online only use secure websites – those with an address beginning with ‘https://’ where the padlock symbol is displayed. Also be careful if the product is being offered at a huge discount.
• If you are experiencing any issue with your card call Coutts 24. It may be that your card has been damaged or there is another reason why your card is not working as expected.

Online Verification

One of the main benefits of Internet shopping is the extra time it gives you to enjoy life offline.

We have introduced additional layers of security for your Coutts cards that will make online shopping less obtrusive but no less safe. The new service will also be easier to use as there is no need to register or remember a password.

Coutts Online Verification uses the latest technology to help protect you against fraud and confirm it is really you making an online payment with your Coutts cards. For more details on how this service works, please visit our dedicated page

There's no need to sign up for a new card or to download any new software.

How to protect yourself against cheque fraud

• Don’t accept cheques from anyone unless you know and trust them, especially when of a high-value. Consider alternative means of accepting payment for high-value items – electronic payments are ideal. 
• Be especially wary if the buyer is unwilling to pay or split the relatively small cost involved involved in sending electronic payments are ideal.
• Before releasing any goods ensure you are fully aware of the cheque clearing timescales and if you are in any doubt about whether a cheque has cleared then call Coutts 24.
• Keep your cheque book in a safe place and report any missing cheques immediately.
• If posting cheques consider consider confirming receipt with the beneficiary or send by secure post.

Scams Involving Cheques

Counterfeit cheques are manufactured or printed on non-bank paper to look exactly like genuine cheques. Usually the bank details quoted are correct. Fraudsters may send the cheque to you, or directly to the bank requesting that it be credited to your account without you ever seeing the physical cheque.

A common method used by fraudsters is known as ‘overpayment’. This is when you are paid for more than the agreed value using a fraudulent cheque. The fraudster will likely provide an excuse for the additional amount and request that the difference is sent back to them before the cheque has cleared, leaving you potentially out of pocket. This type of scam has targeted business and individuals, especially those who buy and sell items online. 

• Never write down or divulge your security identification answers or passwords to anyone, unless you are certain that you are talking to a Coutts member of staff.
• If in doubt hang up and call us back on a known Coutts telephone number.
  
• If you provide us with new contact details, you will receive a call from our security team to validate the details.
• If you provide us with a payment instruction you may receive a security call back.
• Always securely store your banking, financial and valuable personal documents, such as your passport.
• Shred all financial documents before you throw them away, ideally with a cross cut shredder.
• Be aware what personal information you share on social networking sites, for example, date of birth.
• A variety of ‘harmless’ communications in different formats can be used together to steal your identity or commit fraud.

If you are concerned about someone using your identity, here are some useful links.

Checking your credit file

• Equifax
• Experian

Fraud Prevention Service

• CIFAS

Investment fraud involves the purchase of an item taht seems to offer a return that is more attractive than a conventional investment.

• Goods offered can include shares, fine wine, gemstones, art, antiques and other rare high value items.
• In reality, the investment opportunity is a scam and what is offered is often over priced, very high risk and difficult to sell on, or non-existent.
• Sometimes the investment can appear to be reassuringly expensive, and still a scam.
• Even traditional safe investments such as property can pose a risk – plots of agricultural land sold for development can in reality have virtually no development potential.

How to protect yourself against investment fraud

• Always seek reputable independent or legal advice before you commit to any investment.
• Before you hand over any money, ensure the firm you use is on the FCA register, and is therefore allowed to give financial advice.
• The FCA also maintains a regularly updated list of unauthorised businesses detailing those believed to be involved in fraudulent activities.
• If you need independent advice or are unsure what to do in the case of suspected fraud, contact the FCA directly.
• You can also contact your Wealth Manager or Coutts 24 if you have any concerns.