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How to keep your money safe from fraud

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Summary

Quick tips to keep fraudsters at bay

2 min read

Most people think falling victim to financial fraud is something that happens to other people. Until it happens to them. If a scammer’s cross hairs close in on your cash, are you prepared?

Financial fraud is big business. Along with online crime, it costs the UK an estimated £2 million a day, according to the Metropolitan Police. And with increasingly sophisticated scams now being used, staying safe is not as easy as you might think.

Adam & Company is on the front line of the fight against fraud, using cutting-edge technology to help protect our clients’ money. The extensive measures we have taken include introducing Face ID technology and fingerprint authentication across our digital services, and many of the calls made to Adam 24 are now protected by voice biometrics.

Top tips to help protect yourself

There is plenty you can do to keep your money safe too. Here’s just some of the advice we give to our clients. Although it’s mainly common sense, there might be something in here you were not aware of…

 

  • Do not be TRICKED into thinking a number displayed on your phone or email address in your inbox is genuine – fraudsters can SPOOF phone numbers and email addresses, so they look real.
  • HANG UP if you are concerned a caller is not who they claim to be. You will not offend a genuine caller and calling back from a different phone to a trusted number guarantees your security.
  • Carry out a SECOND CHECK via a different communication method to verify whether something is genuine before giving out information or sending funds.
  • NOTHING is as urgent as it seems – only a scammer will PRESSURE you into making a payment.
  • NEVER agree to move your money to a ‘safe account’ – anyone asking you to do so is a fraudster.
  • AVOID paying for goods with payments directly from your bank account – use trusted methods like an Adam Black or Gold/Classic Card, PayPal, Google Pay or Amazon Pay.
  • THINK twice when you receive a link via email, text or social media – make sure it is from someone genuine and if you have ANY doubts, do not click on it as it could download malware.
  • NEVER give your debit or credit card to anyone claiming to be from the bank or the police – we’ll never send a courier for these.
  • If you are making an investment, ALWAYS check the firm is authorised by the Financial Conduct Authority.
  • NEVER click on a link within an email to a ‘Adam Online’ login page. We’ll never include such links in our emails.
“Adam is on the front line of the fight against fraud, using cutting edge technology to help protect our clients’ money.”

The Adam guide to staying safe

To help our clients fight fraud, we have produced a guide to what they should look out for and how they can stay vigilant. If you are an Adam client and have not received that guide but would like a copy, please speak to your private banker or call Adam24 on 0131 278 3777.

More information is also available at adambank.com/security

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