Protecting Yourself from Fraud: Expert Advice for Everyday Life

During International Fraud Awareness Week 2024, we asked our expert speakers a series of questions to get their insights Counter Fraud. This blog looks at their tips for individuals to protect themselves from fraud in their daily lives. Find out what the experts in the sector are thinking! 

Paul Sweeney, Business Lead at Pension Scam Action Group, The Pensions Regulator

 

We recently produced a series of hard-hitting victim case study videos, featuring Pauline Padden, a critical care nurse from Merseyside who was defrauded of her £45,000 pension. 

The message to savers within these videos and overall is to Stop and Think. If something sounds too good to be true, it probably is. This means avoiding making hasty decisions and always checking who you are dealing with. Reputable firms won’t contact savers about their pension out of the blue. 

At the end of the videos, we signpost savers to the Stop!ThinkFraud website, where savers can find out how to stay ahead of scams.

Industry also plays a role and is the first line of defence in identifying suspicious activity, as well as ensuring members are educated about the warning signs.

Both savers and industry should report their suspicions to Action Fraud.”

Other useful links:

Using the Financial Services Register | FCA

Free and impartial help with money, backed by the government | MoneyHelper

 Neil Charnock, Deputy Director: FIS Professionalism at HMRC

- Protect your details like you would your actual money/possessions. Don’t give it out carelessly.
- Store sensitive documents securely and shred any you don’t need. Don’t keep any such documents longer than you need to. 
- The old adage of ‘No such thing as a free meal’ always comes to mind here for me. If something seems too good to be true, it most likely is- don’t be lured in.
- Online- change your passwords regularly and don’t share them with others.
- Keep a watchful eye on your bank accounts to check you’re happy with transactions; question any which don’t seem quite right as soon as you can.
- A really good tip someone once gave me was not to feel rushed into replying to any message or email you receive prompting a quick response (such as someone claiming to be your bank and stating that you need to confirm your date of birth or personal details for them to do ‘X, Y or Z’). Fraudsters and scammers will often apply pressure through the need for a quick response. Stop and take a breath. Ask yourself why they’re after the information and why its needed (and so quickly). Similarly, if it’s a call you’re on in this position, don’t be afraid to say ‘no’ and hang up the phone. You can then check how valid the contact may have been via the official site/contact number of whichever institution claimed to have made contact with you.
- Report any suspicious activity.

 Lavinia Ferguson Dean, Membership Manager at NAFN

Working in data and intelligence, my advice is to be mindful of the amount of information/data you consent to share. Consider free wi-fi, online forms, surveys, social media and so on. The amount of personal information shared about yourself, can make you more susceptible to fraud.

Ruth Ray, Director of Data at CIFAS

Share as little of your data online (particularly on social media) as possible and always be alert to the fact what you do share will be out there in the ether indefinitely.

 Joshua Reddaway, Director at National Audit Office

We have this idea that it’s only the old and vulnerable who get scammed, but actually it’s young(ish) professionals who feel at home with online banking and shopping who get scammed most – probably because there is more opportunity for fraudsters to attack them online. This is also a big risk for organisations with phishing attacks and social engineering a key way that people can overcome fundamental financial controls. To make things worse, we can also no longer rely on bad spelling and grammar to spot a scam, as online tools help fraudsters to craft professional looking and even clones of corporate communications. 
The only solution is vigilance in both our personal and professional life – would this organisation or person normally ask for this, how do I know it’s really them, does what they say ring true, why would they need that information, and am I putting money, myself or my organisation at risk? We can practice this vigilance to build it up – organisations can help staff to recognise scams by running penetration testing – fake scam emails to see how many staff fail to spot them.  

 Jeremy Asher, Director at Financial Fraud Awareness Campaign

People need to educate themselves about fraud risk. However, for many people the type of advice and support that is available is overwhelming and frequently too detailed for them to grasp. Online tools can be expensive; many members of our communities do not have access to online support, or even a TV licence or the language skills to readily access it. In my experience they are particularly vulnerable to the organised crime networks who recruit money mules. I think the current fraud awareness and education available misses the mark. The only way to address this is a ‘troops on the ground’ mentality, led by dedicated counter fraud professionals going into the communities, educating their peers face-to-face.

 Mark Button, Director, Centre for Counter Fraud Studies University of Portsmouth

 

Take time before responding to requests/making payments and if in any doubt delay and ask someone else what they think. 

Want to hear more insights from our expert speakers? Join us for the Counter Fraud Conference on 12th March, 2025 at the QEII Centre, London. Complimentary tickets are available for the public sector. View the latest agenda and register below.