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The rise in TSB fraud and how to keep safe

Action Fraud have been making financial service providers aware that there’s been a rapid increase in the number of fraudsters sending out fake text messages and emails claiming to be from TSB. No doubt timed to fit in with TSB’s computer system update – where 1.9 million users were locked out of their accounts – opportunists are using TSB’s system issue to target people with this type of fraud.

Since the start of May there has been an increase of 970% in phishing (fake email) reports relating to TSB made to Action Fraud.  In the same period, there has been an increase of 112% in reports of cybercrime to Action Fraud which mention TSB.

People are losing significant amounts of money on these scams – thousands in some cases.  Text messages are commonly being used, which is known as ‘smishing’. An individual receives a text message claiming to be from TSB, requesting that they click onto a website which turns out to be a phishing website designed to steal online banking and confidential details.  This can also be done via email, where specialist software is used to make the email look as if it was from TSB.

Once an individual clicks this link and fills in their personal details, fraudsters call them back and persuade them to hand over codes and login details.  Money can then be transferred to a fraudulently set up current account and used to pay a suspicious company. These fraudsters can be very convincing, and make questions and information appear very plausible.

Action Fraud Guidelines on How to Protect Yourself:

Don’t assume an email or text is authentic:

Always question uninvited approaches in case it’s a scam. Phone numbers and email addresses can be spoofed, so always contact the company directly via a known email or phone number (such as the one on the back of your bank card).

Clicking on links/files

Don’t be tricked into giving a fraudster access to your personal or financial details. Never automatically click on a link in an unexpected text or email. Remember, a genuine bank will never contact you out of the blue to ask for your full PIN or password.

If you have received a suspicious TSB email, please do not respond to it, report it to us https://www.actionfraud.police.uk/report_phishing and also forward it to emailscams@tsb.co.uk