Stop, Check, Act and Monitor: helping you stay safe from scams

November 18, 2024

Share this article

As fraud and scams become increasingly common and sophisticated, it can feel like it’s never been more difficult to keep your money safe.

Our Stop, Check, Act and Monitor (SCAM) approach is designed to help you protect what’s yours. Learn about how to spot signs of potential scams, be more vigilant online, and help protect yourself from the tactics of modern-day fraudsters.

Stop: is this genuine?

If you’re contacted by your bank or anyone claiming to be from a legitimate organisation such as the police or HMRC, stop and ask yourself:

Was this call unexpected?
Are they asking for anything unusual, such as verification codes?
Are they trying to create a sense of panic?
Are they offering something too good to be true?
Have they told you your money is at risk, and you need to move it urgently?

If the answer to any of the above is ‘yes’, it could be a fraud attempt. Never make a decision about your money alone or under pressure – so keep calm, end the call and seek more advice from someone you trust. If the call is genuine, they will let you call back to verify.

Check: verify who’s contacted you

Fraudsters are experts at impersonating institutions you trust, so you can never be too cautious even if the person you’re speaking to seems genuine and polite. To verify who you’re speaking to:

Hang up and call back using a number from the organisation’s official website.
Reach out to the business through any other official customer service channels on their website and ask if they’ve tried to contact you.
Even if someone has seemingly verified who they are, still be mindful of red flags such as unusual, unexpected or urgent requests – these are hallmarks of a fraudster.

Act: inform your bank, or trusted organisation

If you’ve been targeted by a scam, there are steps you can take to help keep you and others safe:

Contact your bank or trusted organisation immediately.
Report the incident to Action Fraud – the UK’s national reporting centre for fraud and cybercrime. If you feel like the scam is putting you or someone else in danger, contact the police.
Secure your other accounts. Update passwords and bolster security by enabling settings such as biometric access.
Spread the word. Make it harder for fraudsters by raising awareness among your friends and family.

Monitor: look out for suspicious activity

Fraudsters may attempt to access your online accounts or even try to open accounts in your name, so look out for signs of unusual activity such as:

Unexpected texts or emails, such as verification code or password reset requests.
Unrecognised transactions on your statements.
Unrecognised, newly opened accounts on your credit report.

Familiarise yourself with your bank or provider’s security measures. They’ll tell you what to do when something looks suspicious and what to expect if they genuinely need to contact you.