In their ‘Little Book of Big Scams’, the Metropolitan Police recommends choosing three random words for a password. Using numbers and special characters can also make a password harder to crack, while still being easy for you to remember.
Ask first, pay second
In these types of fraud, by the time you realise that your genuine payee hasn’t received the funds, it can be too late to stop the money falling into the hands of organised criminals.
That’s why it’s vital to double check when you get an email notifying you of a last minute change to bank details. No matter how unlikely a fraud might appear or how convincing the email might be, you should immediately double check that it’s genuine.
Ideally this will involve a communication method other than email, a telephone call for example. If you are a Coutts client you can call our fraud prevention line on 020 7770 0011 if you need any advice on what to do if you’re suspicious. Don’t be intimidated by demands to pay quickly – this could be a sign that a fraudster is trying to get the money before the fraud comes to light.
New ways to pay our bills and do business have undoubtedly made our lives easier and business more efficient. Each innovation brings new opportunities for fraudsters and scammers, but keeping yourself safe is relatively straightforward. As long as you are cautious and vigilant, there’s no reason to fall for the scam.
Find out more about how to protect yourself against fraud.