Unfortunately, telecoms scams are nothing new, with fraudsters’ techniques always evolving alongside technology. However, the scale of telecoms fraud today is especially alarming. For instance, Ofcom reported that 45 million people were targeted by scams in the summer of 2021.
To help protect your personal or business finances and data from scammers, we’re outlining three common types of telecoms scams and how to avoid becoming a victim of fraud.
Wangiri scams
If you’re surprised by that heading, fair enough! This Japanese term, ‘wangiri’, simply means ‘one ring and cut’. It’s very appropriate, as these scams involve a fraudster calling your number and immediately hanging up. They do this in the hope that you will call back, only to find yourself ringing a number that incurs an extortionate charge.
You’ll usually be able to recognise a wangiri scam by checking the dialing code of the associated phone number; if it doesn’t start with ‘0’ or ‘+44’, it’s likely an international caller. Unless you recognise the number, it’s best to avoid returning the call!
Bank transfer fraud
There’s a good chance you’ve received calls or texts from unfamiliar phone numbers pretending to be your bank. They’ll often claim there is a problem or unusual activity affecting your bank account, requiring you to transfer your funds into a so-called ‘safe account’. This is an authorized push payment scam, which can cause panicked individuals or businesses to unknowingly transfer huge sums of money to criminals.
Bank transfers are instantaneous, making them hard for you or your bank to cancel. As such, it’s important to stay vigilant by calling your bank whenever something seems off. They’re very unlikely to ask you to move your savings anywhere, so phone your bank on their official number to query it. It’s always worth taking your time to process suspicious calls or messages — rather than rushing, as scammers would like!
Caller ID spoofing
Modern phones of all kinds usually include a handy caller ID feature, enabling you to screen calls before answering. However, criminals can use this to change the number shown on your device — this is known as number spoofing. They may do this to appear anonymous or to impersonate a person or company you may trust.
If the caller seems suspicious and will not who they say they are, hang up. It’s best practice to then call the person or company on the number you already know to confirm the call’s legitimacy. However, make sure you wait at least five minutes to clear the line before making this call.
We hope this blog has helped you recognise a few common means of telecoms fraud so you can protect your money and data.
For businesses looking for a modern and highly secure telecoms solution, look no further than our Cloud Telephony service. We encrypt your calls and securely store your call data on our premises, ensuring your business’ security. To learn more about this service, contact our helpful team on 0800 920 2555.
For businesses looking for a modern and highly secure telecoms solution, look no further than our Cloud Telephony service. We encrypt your calls and securely store your call data on our premises, ensuring your business’ security. To learn more about this service, contact our helpful team on 0800 920 2555.
