When is a scam a scam, or a scam a fraud? Well, put simply, scams are fraud. Using the word scam, whilst being recognised by many, often means ‘to trick’. However, we all know, that these so called scams, are fraud, pure and simple. From push payment type frauds in the workplace, through to gaining access by email through getting a victim to click on a link to their bank account, the variety and pure volumes occurring each and every day is considerable.

Are people that fall victim to these frauds stupid or careless? Well, it would be easy to suggest they are, but the reality is so far from the truth. Falling victim to these frauds is often through pressure, being vulnerable, or an absence of concentration, whereby the fraudster preys on the victim and manipulates events, often providing some details of the victim, in order to provide authenticity to the request, or to take advantage of the time of year – for example, the increase in HMRC emails on tax refunds during the time that returns are being submitted. Fraudsters are great risk managers, agile and able to adapt to any given environment. More recently, we see many frauds involving donations to Ukraine, COVID passes and energy rebates through Council Tax payments, involving the fraudster sending requests at times when people may expect contact from authorities.

In support of Citizens Advice Scam Awareness Fortnight between 13th June – 26th June, TIAA are undertaking our own series of events over the month (13th June-8th July), to promote education and awareness across businesses and individuals, to provide the knowledge and information to equip people to protect themselves, their data, finances and assets.

We will be running a webinar on the top frauds, and regular briefing notes on different types of scams, outlining what they consist of, how to spot them and what to do to prevent yourself falling victim.

Together, we can raise the awareness, so we’d encourage you to share this with your colleagues, family and friends, as these frauds know no boundaries and are targeted indiscriminately. Please contact us if you wish to learn more or with any assistance on fraud risks.

Let’s work together to stop fraudsters being successful!

Example Scams

Scam 1 – Authorised Push Payments Fraud

Scam 2 – Holiday Fraud

Scam 3 – Investment Fraud

Scam 4 – Ticketing Fraud

Scam 5 – Donation Fraud

Scam 6 – Electricity Meter Fraud

Scam 7 – University Student Fraud

Scam 8 – Romance and Dating Fraud

Webinars

Our Be Scam (Fraud) Savvy Webinars will be held on the 22nd and 28th June. Our experts will be providing an outline of the most common frauds we’re currently seeing, with advice and guidance on how they present themselves, what to look out for and how you can prevent falling victim to them.
These interactive sessions will provide an opportunity for you to learn from our team and raise awareness across your workplace and outside of work.
The event is free and relevant to all sectors and open to all individuals. To reserve your place please visit our Be Scam (Fraud) Savvy Webinar page.

Be Scam (Fraud) Savvy Webinar Follow Up Briefing – 22nd June 2022

Useful resources we will be sharing during the month include:

Met Police Little Book of Big Scams

Citizens advice leaflet