17 October 2017
visit www.response.ncr.com

Fraudsters don fake uniforms to con wealthy bank customers

24 March 2014  |  4426 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  |  8558 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  |  5407 views  |  0 comments | 5 tweets | 5 linkedin
Vishing nets UK fraudsters £7m

Vishing nets UK fraudsters £7m

28 August 2013  |  5221 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  |  4845 views  |  2 comments | 2 tweets

Related blogs

Create a blog about this story (membership required)
visit www.innotribe.comvisit www.vasco.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
14619 views comments | 12 tweets | 3 linkedin
Taiwan's Far Eastern International Bank suffers malware attackTaiwan's Far Eastern International Bank su...
13157 views comments | 16 tweets | 22 linkedin
Monzo fends off suitors as current account upgrade beginsMonzo fends off suitors as current account...
9031 views comments | 17 tweets | 14 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8044 views comments | 15 tweets | 20 linkedin
Ripple blockchain network hits 100-member markRipple blockchain network hits 100-member...
7678 views comments | 13 tweets | 13 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job