A bogus mail and email insurance scam impersonating the Chartered Trading Standards Institute (CTSI) continues to target the public after almost two years in circulation, says CTSI. It warns consumers to be vigilant and to report it if they are targeted.
The letter in question, which uses CTSI branding, informs the recipient that Trading Standards has caught insurance scammers and that they should fill in a “creditors debt form,” which is is supposedly a compensation scheme but in actual fact serves as a means for fraudsters to gain access to personal details which puts respondents at risk of financial loss.
CEO at CTSI, John Herriman, said: “I am appalled to see scammers impersonating Trading Standards and CTSI to defraud consumers out of their hard-earned cash. We often see fraudsters impersonating trusted brands to deceive the public but impersonating the very essence of those that protect consumers by pretending to be Trading Standards is disgusting and shows that these criminals have no limitations to how far they are willing to go to defraud people of their savings.“
Meanwhile, as students go back to college and university, and freshers start their courses, the Student Loans Company (SLC) is warning students to not be tricked into disclosing personal details or clicking on links in emails or text messages which could result in them downloading malicious malware. In the last three years alone, SLC’s Customer Compliance has stopped £1.2m being lost to fraudsters from students’ bank accounts. Students (like anybody else) are reminded to stay alert to scams and ‘too good to be true’ offers.
Bernice McNaught, Executive Director, Repayments and Customer Compliance at the Student Loans Company, said: “It’s no surprise that at this time of year students, especially Freshers, have a lot on their minds – getting to grips with classes and campuses, making new friends or exploring new surroundings.
“With so many things taking attention, it’s easy for students to drop their guard when it comes to mindfulness over online scams and fraudulent phishing. Unfortunately, digital scams, phishing and identity theft have become an everyday part of modern life, and scammers are all too aware that the three student finance payment periods in September, January and April each year are a prime time for them to try to trick students.”
Amber Burridge, Head of Intelligence for the counter-fraud trade association Cifas, said: ‘Criminals are always trying out new tactics to snare consumers as the cost-of-living crisis shows no signs of abating. Quick to take advantage of parcel delivery as well as recent trends in gaming, fraudsters are also targeting students as the new academic year gets underway.
‘Fraudsters continue to look for victims from whom they can steal money and personal information which can be used to commit further fraud. Stop and think carefully before parting with your personal or financial details, only a fraudster will try to rush or panic you.
‘Remember to only download or visit apps from trusted sources and developers and be wary of ‘too good to be true’ offers, especially at a time when household budgets continue to be squeezed.
‘No matter how an offer comes to your attention, there are very few occasions where there is a legitimate need to hand over your bank details. Think carefully before responding to unsolicited texts or emails, and always challenge requests for personal or financial information.’
A guide to identifying a phishing scam at www.gov.uk/guidance/phishing-scams-how-you-can-avoid-them.
See also Take Five, a national campaign aimed at stopping fraud: https://www.takefive-stopfraud.org.uk/.
