• Action Fraud campaign warns people about Computer Software Service fraud.~
   
• 22,000 victims reported losing £21 million in 2017/18.
   
• Action Fraud figures show that Computer Software Service fraud is in the top five most reported fraud types.

Today (24 September 2018), Action Fraud launches a campaign to warn people about the threat of Computer Software Service fraud, one of the country’s most reported top five frauds.

What is Computer Software Service Fraud?

Computer Software Service fraud can start with either a phone call, an email or a pop-up message appearing on your computer, stating there is something wrong with your computer or internet connection and that it needs to be fixed. However, there will either be a demand for payment to fix it, or they will install software on the computer which will allow the criminals to access personal and financial details.

New intelligence

In 2017/18, Action Fraud received 22,609 reports of Computer Software Service fraud with a...

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• City of London Police’s Insurance Fraud Enforcement Department reveals 17-24 year olds are most likely to fall victim to ghost broking
• IFED launch second phase of ‘Steer Clear of Fraud’ campaign to raise awareness among this age group, including university students
• Reported losses for 17-24 year olds total £164,993, with individuals losing on average £912
• IFED officers are due to attend Freshers Fair’s at Liverpool John Moore university, City, University of London and London Metropolitan University

New figures from the City of London Police’s Insurance Fraud Enforcement Department (IFED) has revealed that 17-24 year olds are most likely* to fall victim to fraudsters selling fake care insurance, also known as ‘ghost brokers’.

From November 2014 – July 2018, the majority of reports received by Action Fraud, the national fraud and cyber crime centre, hosted by the City of London Police, have come from victims aged 17-24**. The reported losses for these...

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• City of London Police’s Insurance Fraud Enforcement Department reveals 17-24 year olds are most likely to fall victim to ghost broking
• IFED launch second phase of ‘Steer Clear of Fraud’ campaign to raise awareness among this age group, including university students
• Reported losses for 17-24 year olds total £164,993, with individuals losing on average £912
• IFED officers are due to attend Freshers Fair’s at Liverpool John Moore university, City, University of London and London Metropolitan University

New figures from the City of London Police’s Insurance Fraud Enforcement Department (IFED) has revealed that 17-24 year olds are most likely* to fall victim to fraudsters selling fake care insurance, also known as ‘ghost brokers’. 

From November 2014 – July 2018, the majority of reports received by Action Fraud, the national fraud and cyber crime centre, hosted by the City of London Police, have come from victims aged 17-24**. The reported losses for these...

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How to protect yourself

• Phishing – Attackers may use your personal details to target you with convincing emails, texts and calls. Be suspicious of unsolicited requests for your personal or financial details. 
   
• Financial details – If your financial data was compromised, be vigilant against suspicious activity on your bank accounts. If you notice any unauthorised transactions, notify your bank or card company. 
   
• Passwords – If your password was compromised, perform a password reset on any other online account where you’ve used the same one. 
   
• Report - If you think you have been a victim of fraud or cybercrime, report it to us.
   

The British Vehicle Rental and Leasing Association (BVRLA) have warned that fraudsters are advertising fake vehicle leasing deals on social media.

Fraudsters are paying for social media advertising on channels that include Instagram, and are posing as BVRLA members to lure in customers with enticing headlines, targeting those with poor credit ratings.

The BVRLA is telling people to  think twice before responding to any adverts that promote vehicle leasing deals that require ‘No credit checks’, promote ‘No deposit’ and ask people to ‘Direct Message’ via text to get the deal.

BVRLA Chief Executive, Gerry Keaney said: “These criminals are purposely targeting the vulnerable, scamming money from people who can least afford to lose it. It’s deplorable. Their adverts can appear very convincing with some even posing as BVRLA members and citing membership numbers of legitimate members.

“We want to get the message out there that all legitimate leasing brokers adhere to Financial Conduct Authority (FCA) rules and will carry out...

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Five men have been jailed after a criminal prosecution by the Financial Conduct Authority (FCA) for a total of nearly 18 years for their involvement in a complex boiler room scam that resulted in £2.8 million losses.

The five men were sentenced by Southwark Crown Court on Tuesday for duping more than 170 victims into making fraudulent investments. The trial judge, said that “some victims lost everything they had” and added that elderly people had been specifically targeted. Their stories “were at times positively heart-breaking.”

The men were working in a London based boiler room where they used cold-calling and high-pressure sales tactics to sell worthless and overpriced investments to the public.

Between July 2010 and April 2014, the fraudsters persuaded victims to purchase shares in a company that owned land on the island of Madeira. 

The investors were told that the value of the shares would increase substantially when permission to build 20 villas was granted, thereby enhancing the land’s value....

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• Action Fraud is warning about fraudsters who are targeting those who have already been a victim of fraud.
   
• Between January 2018 and July 2018, 1,155 reports of timeshare recovery fraud were made to Action Fraud. 
   
• In the same period, victims reported losing £7,893,028 – an average of £14,000 per victim. 

How is this happening? 

Reports show that fraudsters are taking advantage of previous fraudulent or mis-sold timeshare schemes and are advising victims that they are owed compensation. Victims are told that they need to pay a fee to obtain this money.

Victims who have invested in timeshares abroad are being contacted by fraudsters claiming to be from reputable authorities. Victims are being offered the opportunity, either by phone call or letter, to reclaim money back from their timeshare or to exit early for a fee. Fraudsters are then advising victims that the amount ‘owed’ can be released. The fraudsters are aware of the victim’s personal details from...

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• Action Fraud is launching an awareness campaign with support from retailers to combat gift card fraud.
   
• Between 1 April 2015 and 31 March 2018, 11,329 reports of fraud involving iTunes gift cards were made to Action Fraud.
   
• In the same period, £6,561,380 was lost to this type of fraud, with the average person losing £579. 

A not so wonderful gift to receive

Action Fraud is warning the public to #StayTunedToFraud as fraudsters are contacting victims, claiming to be from well-known organisations including Her Majesty’s Revenue and Customs (HMRC). Fraudsters are then tricking victims into making payments using iTunes gift cards. 

Fraudsters are using online store gift cards to collect money from victims because they can be easily redeemed and sold on. The fraudsters don’t need the physical card to redeem the value and will instead use tactics to persuade victims to purchase gift cards in large amounts and read out the serial code on the back over the phone.

This...

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The Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) are urging the public to be vigilant when receiving unsolicited offers about their pensions and to check who they are dealing with.

The FCA and TPR have launched a joint TV advertising campaign to raise awareness of pension scams and the most common tactics used by fraudsters. 

This comes after figures show that a total of 253 victims reported to Action Fraud that they had lost more than £23 million to pension scammers in 2017, which equates to an average loss of £91,000 per victim.

Highly sophisticated scammers lure people into transferring their pensions into fraudulent schemes. Victims of pension scams can lose their life savings, and be left facing retirement with limited income. 

The FCA and TPR are calling the public’s attention to the tactics used by pensions scammers. One of the most common tactics is to offer a ‘free pension review’.

Cold calling is currently by far the most common method used to initiate pension fraud....

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• Action Fraud is warning the public about fraudsters advertising ‘get rich quick’ investments to scam people out of money.
   
• The latest statistics from Action Fraud show that in June and July, victims reported losing £2,059,501.29 to cryptocurrency scams – an average of £10,095.59 per person.
   
• In the same period, 203 reports of this type of fraud were made to Action Fraud.

How is this happening?

Fraudsters are cold calling victims and using social media platforms to advertise ‘get rich quick’ investments in mining and trading in cryptocurrencies.

Fraudsters will convince victims to sign up to cryptocurrency investment websites and to part with their personal details such as credit card details and driving licences to open a trading account. The victim will then make an initial minimum deposit, after which the fraudster will call them to persuade them to invest again in order to achieve a greater profit. 

In some cases, victims have realised that they have been defrauded, but only...

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