Fraudsters target premium bond accounts
In a disturbing development for many savers in the UK it has been revealed that fraudsters are targeting premium bond account holders with a very basic yet potentially lucrative scam. The scam hit the headlines after a Times newspaper reader had his Halifax account blocked after he deposited a premium bond cheque. The customer in question took £2,000 from its premium bond account and went straight to his local Halifax account to deposit the cheque.
It was only two days later when he tried to use his debit card that he found his bank account had been frozen amid suggestions of a potential fraud. While the situation was cleared up and the account was reactivated relatively quickly it became apparent that banks and building societies around the UK had been made aware of the potential scam. Basically, fraudsters were intercepting national savings premium bond account cheques, amending the names and attempting to deposit funds in their own accounts. It is not certain how much money has been siphoned off by this particular scam but for the authorities to make banks and building societies aware of the situation it would suggest the risk is real.
This is just the latest in a number of scams and frauds which have appeared over the last 18 months as the recession continues to grip the UK. It is vital that we are all vigilant and careful where finances are concerned as well as our personal identification information.
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