NatWest customers are being warned to watch out for emails from criminals posing as the bank, as the number of targeted scams has surged.
According to Action Fraud, the UK’s fraud reporting centre, there have been 151 reports of scam emails impersonating NatWest in just two weeks.
The fraudulent emails claim that the contact number linked to the victim’s bank account has been changed, prompting them to click a harmful link to “cancel the request.”
People who receive these emails are urged not to click any links in these kinds of messages.
To help people spot and avoid such scams, NatWest has outlined several red flags to watch for in emails claiming to be from the bank.
Firstly, it advises people to be cautious of emails that urgently request personal or financial information or ask them to make a payment or transfer money. These emails often try to create a sense of panic to rush decision-making.
They may also pressure people into transferring funds to another account for supposed “safe-keeping.”
Additionally, the bank urges people to be wary of any email that prompts them to approve a payment in the mobile app that hasn’t been authorised.
NatWest said: “Your bank or the police will never ask you to transfer money to a safe account or ask for your full PIN, password or passcode.
“The bank won’t phone you and ask you to approve a payment – only approve payments that you know you’ve made yourself.”
Those who receive unexpected contact from the bank should reach out to them directly instead of using a known email or phone number.
To report a scam, people can phone the number 159 or forward the emails to [email protected].
Criminals stole £1.17billion through both unauthorised and authorised fraud in 2023, according to the latest report from UK Finance. Although this represents a four percent decrease from the previous year, it still signifies a substantial sum.
Ben Donaldson, managing director of economic crime at UK Finance, said: “Nearly £1.2 billion was stolen from customers in 2023 and the criminals who commit these crimes destroy lives and damage our society.
“The money stolen funds serious organised crime and victims often suffer emotional damage as fraud is a pernicious and manipulative crime.”
He added: “The financial services industry remains at the forefront of efforts to protect customers, prevent fraud and support those who fall victim. With reimbursement rules set to change, we risk even more money getting into criminal hands, unless the technology and telecommunication sectors take proper action to stop the fraud that proliferates on their platforms and networks.”
