Qualified advisers answering your
Financial Questions
call 0800 092 1245

Phone call fraud scams people out of £23.6 m


People have lost a total of £23.6 million over the past year to phone scams which encourage people to put their money into a fraudsters account.

Financial Fraud Action have discovered that this scam is the most widespread phone scam in the UK, as a new campaign is launched to target this.

Within the scam, the fraudsters try to convince the victim that fraud has been detected in their bank account and they have to move all their money into a “safe account” to stop themselves from losing it, which is then drained by a fraudster.

The criminals will use a range of techniques to make the phone call seem legitimate, such as technology to put a false caller number on the victim's phone display, matching a bank's phone number. They may also have information on the victim stolen from elsewhere.

A campaign by Neighbourhood Watch has been launched to fightback against the fraudsters, asked neighbours to alert people to the scams that could lead them to losing their life savings.

Katy Worobec, director of Financial Fraud Action UK said:
“More and more people have heard about the dangers of phone scams and how they work.

“Unfortunately there is still a significant number who are unaware that highly professional criminals are systematically targeting members of the public to deceive them out of their savings.

“We want to declare this week a time for all those who are aware of these threats to talk to relatives and neighbours and warn them about suspect calls and how to protect themselves.”

Need financial advice?

If you have any personal finance questions related to this news article, then please contact our financial advisers. You can get in touch by asking a question online, calling us on 0800 092 1245, or by arranging a visit.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details