08 December 2016
Visit aciworldwide.com

Fraudsters don fake uniforms to con wealthy bank customers

24 March 2014  |  4116 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  |  8095 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  |  4930 views  |  0 comments | 5 tweets | 5 linkedin
Vishing nets UK fraudsters £7m

Vishing nets UK fraudsters £7m

28 August 2013  |  4827 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  |  4588 views  |  2 comments | 2 tweets

Related blogs

Create a blog about this story (membership required)
Visit VocaLink.comFind out moreVisit contisgroup.com

Top topics

Most viewed Most shared
Guesswork alone can crack Visa card security - Newcastle UniversityGuesswork alone can crack Visa card securi...
7648 views 12 comments | 15 tweets | 27 linkedin
OCC to offer fintech firms bank charter statusOCC to offer fintech firms bank charter st...
7518 views comments | 25 tweets | 15 linkedin
China tops world fintech rankingsChina tops world fintech rankings
7438 views comments | 36 tweets | 30 linkedin
EBA bends under weight of PSD2 mandatesEBA bends under weight of PSD2 mandates
6679 views comments | 34 tweets | 45 linkedin
Fed Governor sounds warning on alternative credit scoring dataFed Governor sounds warning on alternative...
6570 views comments | 20 tweets | 22 linkedin

Featured job

to Six-Figure Base, Bonus, Benefits
London, UK

Find your next job