NATIONWIDE is warning customers about a text scam that could see people lose thousands of pounds to fraudsters.
The text message looks like its from the bank, asking the recipient to confirm whether a high value purchase was made by them on their debit card.
The message urges the customer to call a fraud prevention number if they dont recognise the purchase, but the numberis in fact a direct line to the fraudster, where they proceed to trick you into handing over personal information.
Nationwide and Action Fraud are urging customers to take five and to stop and think before calling the number.
The scam is particularly convincing as banks frequently use text messages to verify customer transactions, particularly when high or unusualpayments (such as those made abroad) aremade.
A spokesman for Nationwide said: A handful of customers received this text message and responded to it, but we were proactive, shut it down and customers received refunds on the same day. So no-one lost out.
The systems and processes used by financial institutions like Nationwide [to tackle fraud] are working and successfully stopping many fraud attempts but as a consequence, [fraudsters] may now attempt to contact customers directly.
Its important to be alert and take time to think before sharing financial details.
The spokesman added thatfraudstersrandomly target individuals in the hope to reach someone who has an account with the bank they have chosen to name.
Text message scams are also known asSMiShing, which is when criminals pretend a message is from your bank or another organisation you trust.
The messages will usually tell you there has been fraud on your account and will ask you to deal with it by calling a number or visiting a fake website to update your personal details.
How to protect yourself fromscam text messages
- Be cautious before acting on a text or email that appears to be from your financial services provider
- Check the number you are being asked to call on the providers website if in doubt call the number on your card
- Never disclose card reader codes over the phone
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