04 September 2015

Fraudsters don fake uniforms to con wealthy bank customers

24 March 2014  |  3427 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 

2 thumb ups! 2 thumb ups! (Log in to thumb up)
Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

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?

Finextra Member Commented on: HSBC to rebrand Britsh...
Finextra Member Commented on: Zapp to use behavioura...

Top topics

Most viewed Most shared
Third of Brits expect day-to-day mobile pa...
8353 views comments | 39 tweets | 15 linkedin
Payments UK sets out vision for 'world cla...
6889 views comments | 17 tweets | 10 linkedin
Swedish mPOS firm iZettle raises EUR60m fo...
6198 views comments | 13 tweets | 8 linkedin
HSBC glitch leaves thousands of customers...
6124 views comments | 13 tweets | 7 linkedin
UK boosts contactless limit to £30
5667 views comments | 31 tweets | 20 linkedin

Featured job

£95,000 basic, £170,000 OTE
London

Find your next job