Fraudsters call out of the blue claiming that a fraud has already happened, or may be imminent. They may already have some information about you, and may pose as bank staff, the police and other officials or companies in a position of trust.
The fraudster will then try to persuade you to:
- Transfer money to another account for "safekeeping" or "holding"
- Withdraw cash and hand it over "for investigation"
- Divulge private information, which can then be used to gain access to your finances
In many cases, these cold callers will suggest you hang up the phone and call them back on another number. However, it is easy for them to keep the connection open and intercept the call, so all the information you think you're giving to your bank is actually going to them.
It's important to remember:
- Be wary of unsolicited approaches by phone, especially if you are asked to provide any personal information
- If you are suspicious or feel vulnerable, don't be afraid to end the call and refuse requests for information
- Fraudsters can use "call spoofing" to deliberately falsify the telephone number relayed on your caller ID to show as a genuine bank number
- HSBC will never call you to ask you to generate a Secure Key code or ask for your PIN number
- Never share your security details with anyone else
Criminals may already have some basic information about you (name, address, account details); don't assume a caller is genuine because they have these details or because they claim to represent a legitimate organisation.