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You have been a victim before, now don't get caught out again. Beware of recovery frauds that promise to get your money back after you've been scammed. These schemes often ask for upfront fees and target those already hurt by other scams. They may use fake news articles or impersonate government officials to gain your trust. Watch out for warning signs like requests for personal information or payments before services are provided. Stay vigilant and report any suspicious activity to authorities to help stop these fraudsters in their tracks. This article has helpful information. #RecoveryFrauds #ScamPrevention #GovernmentImposters #VictimLists #WarningSigns #ReportFraud 

Investment fraud is on the rise, listen to our Head of Fraud, Nicola Sadlier, to learn more about how to spot a scam

Scams and identity fraud are a problem for everyone. So, it's up to everyone (individuals, retailers, banks, insurance providers, etc.) to help protect against these crimes. 🤝 Check out our #article to read real-life scam victim stories and strategies you can leverage to safeguard your customers and your brand against #scams. https://bit.ly/3yK9p9k #IrisIDProtect #IDTheft #B2B #B2B2C #B2C #ConsumerTech

Banks Hold the Key to Fighting Scams—Better Data Sharing Can Make All the Difference! 🚨 Which?’s latest study from the UK—leading the way in scam reimbursement policies—shows how banks play a central role in fraud prevention, but more can be done to improve collaboration and support for victims. With similar challenges faced in the U.S., the findings are a valuable lesson globally. ❗ 63% of victims report fraud to their bank, but only 19% report it to Action Fraud, and 17% go to the police. ❗ 49% of victims struggled to report fraud to the receiving bank, showing a need for smoother reporting processes. ❗ 75% of victims are comfortable sharing their data across organizations to prevent future fraud. ❗ 10% of victims didn’t report their fraud case at all, with 27% unaware they could report to other agencies. Banks theoretically hold much of the key information to prevent scams and protect customers, but legal, resource, and risk challenges can pose great hurdles to overcome. That’s why CYBERA exists. By working together, we can help streamline scam reporting, share intelligence, and stop fraudsters faster—empowering banks to lead in scam prevention. #ScamPrevention #DataSharing #VictimSupport #Banking #CollaborateToStopFraud

📣📣 Start talking about this ➜⇢➤ like I mean to EVERYONE you know and meet. Yup, even your favorite barista☕, barber✂️ or bar-person🍸 🛑 Let's see if we can help prevent and stop even just one person from falling victim to these scammers 👀 🚨 PLEASE DON'T JUDGE ➜⇢➤ there are so many potential unique factors in each and every case, who are we to assume❓ 💥💥💥London-area resident loses more than $2M in romance scam 🖥️ They met a person on an online dating platform. After a relationship was established, the individual asked for financial assistance to pay outstanding taxes to obtain an out-of-country family inheritance. ▶️ They transferred 💰 to the scammer by using prepaid gift cards and a series of wire transfers over 4 years totaling more than $2 million ⚠️🚨 The individuals never met in person https://lnkd.in/ereYk-RM #aml #amlcft #amlcompliance #compliance #regulatory #training #financialcrimes #financialcrime #moneylaundering #duediligence #antimoneylaundering #kyc #financialservices #corruption #scams #fraud #terroristfinancing #terrorismfinancing #barbados #anticorruption #sanctions #financialcrimecompliance #bribery 

With the IRS Imposter Scam, callers claim to be employees of the IRS but are not. They use fake names and bogus IRS identification badge numbers. Victims are told they owe the IRS money, which must be paid promptly through a wire transfer or stored value card such as a gift card. Victims who refuse to cooperate are threatened with arrest, deportation, or suspension of a business or driver's license. If you fall victim to this scam, here are tips to help keep your money and identity safe: ✅Contact the fraud department of any of the three consumer reporting companies – Equifax, Experian, or Transunion – to place a fraud alert on your credit report. ✅Close the accounts that you know or believe have been tampered with or opened fraudulently ✅Report Internet Crimes to IC3.gov ✅Report to the Federal Trade Commission ✅File a police report #BankWithConfidence #BankLocal #IRSImposterScam

📢 Alert: APP Scam Awareness 📢 APP (Authorised Push Payment) scams are on the rise, with losses reaching almost £240 million in the UK alone for the first half of 2023. Fraudsters trick you into voluntarily transferring money by posing as your bank, family members, or other trusted entities. 🚨 Protect Yourself and Your Loved Ones: Verify: Always double-check the identity of the person you're speaking to. Pause: Take a moment before making any transfers. Educate: Share this information with friends and family to keep everyone safe. RAW Compliance has created a number of financial scam awraeness training videos which are free to access on the #RAWTrainingHub: 🔗 www.rawcompliancehub.com Let's work together to stop these scammers. Spread the word and stay vigilant! #APPScam #FraudAwareness #StaySafe #ProtectYourMoney #RAWCompliance

Tulip Siddiq, the economic secretary to the Treasury, said: “Hundreds of millions of pounds are lost to scammers each year, targeting vulnerable communities and ruining the lives of ordinary people. “We need to protect these people better, which is why we are giving banks more time to investigate suspicious payments and break the criminal spell that scammers weave.” The changes are designed to protect people from authorised push payment (APP) fraud, where victims are tricked or pressured into sending money to fraudsters. Rocio Concha, the director of policy and advocacy at consumer group Which?, said the proposals mark a “positive step in the fight against fraud”. #consumer #banks #fraud #cybersecurity https://lnkd.in/e97-BucT

🚨 I lost £60,000 in a phone scam. If it can happen to me, it can happen to anyone. 🚨 A businessman shares his story of being tricked into handing over a huge sum after fraudsters convinced him his family's identity details had been stolen. ⚠️ Fraudsters often pose as your bank or even family members. They rely on the victim 'authorizing' the payment, making the transfer voluntarily. ⚠️ 📊 In the UK, APP (Authorised Push Payment) fraud for the first half of 2023 surged by 22%, leading to losses of nearly £240 million. "This scam has left me sleepless and ill. I can't stop thinking about the money I lost. It's been an emotional rollercoaster as we fight to get our money back from the bank." ⚠ Stay aware and vigilant. 🛑 Never share your personal information or bank details over the phone unless you're absolutely sure of who you're speaking to. 🌍 RAW Compliance is dedicated to educating and protecting our community from scams. Join us in spreading awareness and safeguarding others. 💪 #ProtectYourMoney #ProtectYourself #FraudAwareness #StaySafe #RAWCompliance

"On the one hand, I can see where Prof Mak is coming from, but I do not believe that it is a fair characterization The truth is that the system is only as secure as we want it to be. There is no denying that our lives have gotten much more convenient with Paynow and mobile/ Internet banking. But we also must acknowledge that there is a trade-off - if you make systems easier, then it becomes easier throughout the entire system, and that also means opening up vulnerabilities to scams Now, if the losses occurred because the bank or the financial institution was hacked or their anti-fraud systems didn't properly, then I would agree that the banks are at fault. But the vast majority of scams are not caused by bank system failures, but rather due to the human factor. Unfortunately, there are always going to be people who are going to be scammed, and no amount of controls or safeguards is going to prevent that. So it's an easy thing to accuse the banks and SPF of looking for a silver lining, but the truth is much more complicated, and unfortunately, there isn't much else that can be done."