Bank scam messages deceive four in five, study finds

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According to a TSB study, four in five are deceived by fraudulent bank messages because they warn the young people most likely to be duped.The results come when the TSB showed 2,000 people 20 text and email messages from companies such as banks and mobile operators, half of which were fake.

It revealed that only 18% of people could correctly identify all of the messages that were scams. The vast majority of people have not detected telltale signs in fake messages such as spelling errors and links to unofficial websites.

Other suspicious signs include links that lead someone to a page asking for login, account, or card information, as well as messages trying to trick people into taking “urgent” action.

The TSB found that people between the ages of 18 and 24 were particularly at risk of falling for scams, with only 9% correctly identifying all bogus messages.

More than a third (37%) of people said they would respond to at least one of the fake messages claiming to come from their bank, reaching two-fifths (41%) for 18 to 24 year olds.

Ashley Hart, TSB Fraud Officer, said: “Unfortunately, fraudsters are becoming more adept at using technologies such as SMS to impersonate banks and other businesses, all to deceive people on their hard earned money.

“Our results show how convincing these messages can be and highlight a disturbing proportion of people likely to be caught off guard.

“The emotional and financial impact of fraud can be devastating – that’s why we reimburse all of our customers if they fall victim and invest in partnerships with the police to track down the criminals behind these attacks.” “

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