01 September 2014
Find out more

Fraudsters don fake uniforms to con wealthy bank customers

24 March 2014  |  2707 views  |  1 blurry people

Crooks dressed in fake uniforms are turning up on the doorsteps of wealthy C Hoare & Co clients and duping them into handing over financial data that can be used to empty their accounts.

Britain's oldest private bank, founded in 1672, has written to customers about the scam which is targeting about three of its 10,000 customers a week and has seen one client scammed out of £500,000.

The crooks' operation begins with a series of e-mails from a fake Web site, often warning that the victim's computer has a virus, according to the Daily Telegraph.

This is then followed up with a personal visit from someone pretending to be a C Hoare & Co employee and wearing what appears to be the bank's distinctive uniform, complete with extensive braiding.

The fake banker then attempts to obtain the victim's Visa card or information which can be used to gain access to accounts and steal money.

Managing partner Alexander Hoare told the Daily Mail that the bank is trying to protect customers by urging them to "use our internet banking system, which is safer than post, or the mobile app once it is built'.

Comments: (1)

Brett King - Moven - New York | 24 March, 2014, 16:49

"or the mobile app once it is built"...

Says it all in terms of Private Banking's ability to weather digital ecosystem shocks these days. PB's are the slowest to move on digital, but often have the most time poor customers who require digital more than average retail customers. The bank as a platform here is clearly compromised because of LACK of digital investment 

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Related blogs

Create a blog about this story (membership required)

Related stories

14 March, 2014
10 February, 2014
28 August, 2013
07 August, 2013

Who is commenting?

Featured job

to $120k base ($250k OTE including commission), be...
Boston, MA (USA)

Find your next job