Fraud Awareness and Security Measures
News & Insights
Fraud Awareness and Security Measures
At GC Partners, we are fully committed to the security and protection of your accounts and funds. As fraud schemes become increasingly sophisticated, it’s crucial to stay informed about the rising threat of new and complex methods of fraud, including Authorised Push Payment (APP) fraud.
Criminals are becoming increasingly skilled at impersonating both individuals and organisations, using more sophisticated methods to trick people and businesses into transferring money to fraudulent accounts. These scams often make it challenging to recover lost funds. To help you protect your money, we’ve gathered key tips and provided an overview of the latest fraud trends so you can stay alert.
What to Watch Out For
Fraudsters are constantly developing new techniques to exploit unsuspecting victims. Here are some of the most common types of fraud currently on the rise:
- Impersonation Scams: Scammers pose as trusted institutions, such as banks, law enforcement, and financial service companies like GC Partners, to convince you to make monetary transfers
- Fake Invoice Scams: Criminals send false invoices that appear to be from familiar suppliers or partners, directing payments to fraudulent accounts.
- Social Engineering Tactics: Fraudsters gather personal information from social media or other public sources to make their scams appear more credible, gaining your trust before initiating a fraudulent transaction.
- Compromised Email Accounts: Cybercriminals gain unauthorised access to email accounts, intercepting communications and sending fraudulent payment requests that would appear to come from someone you know.
- Investment Fraud: Scammers promote fake investment opportunities, luring victims with promises of high returns that never materialise.
How to Protect Your Account and Funds
Here are proactive steps you can take to reduce the risk of falling victim to fraud:
- Verify Payment Requests: Always double-check payment requests with the sender using a trusted contact method, especially if there’s a sudden change in account details or such requests are made with a sense of urgency.
- Be Cautious of Unexpected Requests: If you receive an unexpected invoice or payment request from someone you know, call them directly to confirm its legitimacy before proceeding.
- Monitor Your Accounts: Regularly review your accounts for any suspicious activity or unauthorised payments and report any unusual transactions immediately.
- Watch Out for Pressure Tactics: Fraudsters often create false urgency to rush payments. Take your time to verify payment requests, and remember, legitimate organisations will not pressure you to act immediately.
- Use Secure Channels: Avoid sharing sensitive financial details via email or text. Use encrypted communication platforms where possible or call the company directly.
- Check for Suspicious Emails: Look carefully at email addresses, as fraudsters may use addresses that are nearly identical to legitimate ones but with small, hard-to-notice changes.
- Update Security Regularly: Use strong, unique passwords and enable two-factor authentication (2FA) on your accounts whenever possible.
- Be Cautious with Public Wi-Fi: Avoid accessing sensitive accounts or making financial transactions over public or unsecured Wi-Fi networks, which are vulnerable to hacking.
- Report Suspicious Activity: If you suspect fraud, contact your bank and our fraud prevention team immediately.
Reporting Fraud: Speak Up and Stay Protected
If you notice any suspicious activity or believe you’ve been targeted by fraud, take immediate action:
- Contact our Fraud Prevention Team at [email protected]
- Report phishing attempts or suspicious communications to [email protected]
- Report the incident to the UK’s Action Fraud Service via their website or by calling 0300 123 2040
At GC Partners, your security is our top priority. We can work together to protect your funds and ensure a secure financial experience by staying informed and vigilant.