UK-based bank HSBC has issued a warning to its customers worldwide to be on high alert for sophisticated phishing scams impersonating the bank – and sometimes using fake couriers.
The scam involves people being contacted by people either claiming to be from the bank or a courier service, who insist on taking your bank card and personal information to solve ‘fraudulent activity’ on your account.
According to the National Anti-Scam Centre, there were 143,106 total scams reported in the first six months of 2024, of which more than 73,000 were phishing scams impersonating trusted sources to steal your money or personal information.
Matthew Hannan, head of fraud management at HSBC Australia, says scammers try to create a false sense of urgency which persuades people to take immediate action because they think they’re protecting their money.
“Scammers contact people pretending to be from the bank claiming that your debit or credit card has been used fraudulently and to gain your trust, the scammer will tell you to ring your bank on the telephone number printed on the back of their card to ensure the call is genuine,” he says.
From there, he says, the criminal pretends to hang up the call, but keeps the line open. The customer then thinks they are calling their bank, but the call does not go through, and they are instead still connected to the scammer.
“The scammer, who is now pretending to be your bank, will say that the card needs to be collected and will ask the customer to share their PIN or write it down and put it in an envelope with the card and their online banking secure key, before sending a courier to collect the items.
Showing this is a more sophisticated scam than usual, in many cases a fake courier will be dispatched to your house to collect these items.
“The customer is then told the card is going to the bank to be replaced but is actually delivered to the scammer,” Mr Hannan says.
“Once in possession of the card, the PIN and the victim’s full bank details, the scammer will attempt to withdraw all available funds from the customer’s account.”
How can I avoid this scam?
It might seem like this scam would be hard to fall for, but criminals are becoming increasingly sophisticated when it comes to impersonating legitimate businesses. Still, Mr Hannan says there are a few red flags in this scam that should alert people.
First, your bank will never send a courier to your home to collect your card, PIN, or online banking secure key. If someone approaches your home asking for these things, ask them to leave and contact police.
Mr Hannan says your bank may call for fraud detection purposes to verify whether a transaction is genuine or not. But they will never ask for your internet banking credentials or security codes to authorise logins or payments.
He says if you receive any suspicious or unexpected calls, always verify the call by checking the number exists from an independent source. If there’s any doubt, don’t call back.
Have you experienced this scam? Have you ever lost money to a scammer? let us know in the comments section below.
Also read: Over-55s lose more money to investment scams than any other type of fraud
