Santander customers are being targeted by scammers using fake text messages. Here’s what to watch out for and the information you should never reveal.
Criminals are targeting Santander customers using a text message trick to steal funds out of current accounts.
All of the victims who have lost money are now struggling to recoup their losses as they all revealed their One-Time Passcode to the scammers. This is a vital piece of information fraudsters need to steal money.
Here’s what you need to know to keep your accounts safe.
How the scam works
In the latest spate of incidents criminals are reportedly using a technique called number spoofing to send messages to victims that appear to be from the bank and part of an existing thread.
These warn that there has been unusual activity on the account and that the customer needs to call a number or click a link to verify information.
Scammers then convince the victims to provide account details for their online banking and generate a One-Time Passcode (OTP), which allows them to empty the accounts.
The OTP is an extra layer of security Santander uses to authorise things like setting up a new payee or changing details on the account.
Can victims get their money back?
Sadly, Santander will not refund the victims of this nasty smishing scam because they handed over the essential OTP code, which allowed the fraudsters to siphon the money.
How to stay safe
Your bank will never contact you to ask for your account details, Pin or your OTP code.
You should ignore and report any message, call or email you get asking for this sort of sensitive personal information.
If you think if you have become a victim of a smishing scam, contact your bank as soon as possible using the number on the back of your debit card.