What’s worse? A fraud that is so obviously a scam, or the ones that actually catch you out?

Over the years, there have been a significant number of banks targeted: Lloyds, Barclays, TSB. Chances are, whichever bank you’re with, scammers have impersonated it at one point or another, and worse? Have been successful.

As the internet becomes more advanced, scammers take it upon themselves to exploit those who struggle to keep up, raking in thousands of pounds from the account of hard-working individuals.

We’ve all had those emails that go into our junk folder; sent by accounts that have one too many numbers in their email address and find a way to spell “hello” wrong.

But be honest, have you ever clicked a link that you probably shouldn’t have?

Well, really quick, let’s take a look at the most common kinds of fraud:

• Phishing:

  Despite its funny name, this scam is anything but. Emails that ask for your bank details, phone calls that convince you to hand over your login details, messages with dodgy links, all claiming that there is something wrong with your bank account.

  There’s not.

  We can guarantee that banks will never ask for your bank card details through the phone – be that a phone call, a message, or an email.

• Malware attacks:

  This one sounds pretty scary, but as long as you know what you’re clicking on, it holds no power.

  As we mentioned, scammers often send dodgy links – be that through text message or emails. The moment you click one on these links, a computer virus starts downloading, and sometimes they can be really hard to find.

  Essentially, don’t click on anything if you don’t know what it is. That’s the best piece of advice we can give you.

• Invoice Fraud:

  Business owners, this one is for you.

  The more… ‘experienced’ fraudsters will find ways of making a scam look legitimate – the most often kind being the invoice fraud.

  What is that? Well, this is where the scammers will impersonate a supplier of yours, and typically ask for the bank details to be updated on the account that the invoices are sent to. The worst part? They look authentic.

  If Facebook and Google can lose more than $100 million to an invoice fraud, so can you.

Now, we know this all seems scary, and with the internet being as vast as it is, there seems to be no way of combatting these scams. However, there are a few ways to ensure that your finances are more protected.

So, let’s give you our top 5 tips of ours, shall we?

• 1. Keep your passwords to yourself.

  We know this seems like common sense, but you’d be surprised at how often fraudsters actually get their facts spot on when impersonating trustworthy people.

• 2. Use STRONG passwords.

  On the note of passwords, make sure they’re strong. By this, we mean… add a few capital letters in there, a few numbers and punctuation marks too. The harder to guess it is, the better.

  Most websites, that require a password to be made, inform you of this. But it’s better to have this information in your brain than to rely on a website to remind you.

  It is advised to change your password every few weeks. But, if changing it sounds like too much hassle that you won’t remember to do, make sure your password is strong, at the very least.

• 3. Check your accounts regularly.

  Yes, all of them.

  We advise checking your accounts a few times throughout the week, just to make sure that there hasn’t been any unauthorised activity: transactions you didn’t approve, emails or messages you didn’t send etc.

  And if there has been unauthorised activity? Report it to whoever is necessary, then change your passwords.

• 4. Use anti-virus protection

  Malware becomes pretty useless as long as you do 2 things: know what you’re clicking on and install anti-virus protection.

  This is where it becomes tricky. Make sure that what you’re installing is legitimate… These can be used as scams too.

  Anti-virus protectors like McAfee, Norton, and Kaspersky are typically the best port of call for protecting yourself against malicious scammer-sent technology, although they do cost.

  Kaspersky does do a free version, as does Bitdefender. Then there’s your typical Windows Defender, which is usually already installed on any Windows PC.

• 5. Do NOT give out account details.

  This is our last tip for you. Banks will not ask for the details of your account through technology – they will wait until you meet them face-to-face.

  Do not fall into this trap, no matter how easy it is to do so. Never hand over your bank details through a phone call, an email, or a text message.

Bank frauds are always happening, and while that might seem scary, if you are alert to the telltale signs of a scam, their techniques are deemed useless.

So, keep your eyes peeled and your bank details secure.