24 July 2017
download the report now

Fraudsters don fake uniforms to con wealthy bank customers

24 March 2014  |  4338 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
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 

1 thumb up! 1 thumb up! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

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

Related stories

Fraud losses on UK cards on the up

Fraud losses on UK cards on the up

14 March 2014  |  8413 views  |  0 comments | 18 tweets | 15 linkedin
UK police and banks tap counter-terrorism methods to fight cyber-crooks

UK police and banks tap counter-terrorism methods to fight cyber-crooks

10 February 2014  |  5256 views  |  0 comments | 5 tweets | 5 linkedin
Vishing nets UK fraudsters £7m

Vishing nets UK fraudsters £7m

28 August 2013  |  5110 views  |  0 comments | 4 tweets | 3 linkedin
Finra warns of old-school phone phishing scam

Finra warns of old-school phone phishing scam

07 August 2013  |  4774 views  |  2 comments | 2 tweets

Related blogs

Create a blog about this story (membership required)
visit www.worldpaymentsreport.comvisit vasco.com/news/PSD2-compliant-solutionsdownload the paper now

Top topics

Most viewed Most shared
Mastercard to buy AI outfit BrighterionMastercard to buy AI outfit Brighterion
10935 views comments | 14 tweets | 20 linkedin
Barclays rides payments-as-a-service wave with investment in Form3Barclays rides payments-as-a-service wave...
9791 views comments | 16 tweets | 12 linkedin
UK judge blocks £14bn class action suit against MastercardUK judge blocks £14bn class action su...
8633 views comments | 7 tweets | 6 linkedin
PayPal strikes deals with Chase and CitiPayPal strikes deals with Chase and Citi
8619 views comments | 10 tweets | 5 linkedin
Mastercard and Scotiabank join Enterprise Ethereum AllianceMastercard and Scotiabank join Enterprise...
8579 views comments | 25 tweets | 16 linkedin

Featured job


Brussels or Frankfurt

Find your next job