What is it?

Banking fraud can occur through three channels: online, telephone and mobile banking. To commit this fraud criminals gain access to your bank account and make unauthorised transfers of money.

How to spot banking fraud

  1. Your account details have been changed and you may not be able to access your account
  2. Your bank account has new payees, direct debits and standing orders set up that you didn’t authorise
  3. There are transactions on your bank statement you don’t recognise

Example of banking fraud

Adrian was trying to keep his children entertained when he received an urgent text message from ‘his bank’ informing him about a problem with his bank account. He was told to ring the number provided immediately to update his personal details. Upon speaking to ‘an employee’ from his bank, who confirmed Adrian’s full name, address and recent transactions, he was told the bank had detected suspicious activity on his account and he needed to provide them with new personal information. The ‘employee’ informed Adrian that in order to process the change of details he would receive a One-Time Passcode which he was to share with them. Moments later, he was told the problem with his account had been resolved.

Unknowingly Adrian had given access to his bank account to a criminal.

A couple of days later, he logged into his online banking and discovered new payees and direct debits set up which he had never authorised. He contacted his bank immediately to resolve the issue.

If you believe you’ve fallen for a scam, contact your bank immediately on a number you know to be correct, such as the one listed on your statement, their website or on the back of your debit or credit card.

Always remember

Only provide organisations that you trust and have given consent to with your personal or financial details.


Question uninvited approaches and contact companies directly using a known email or phone number.


Contact your bank immediately if you spot transactions on your bank statements that you don’t recognise.


Just because someone knows your basic details doesn’t mean they’re genuine.


Be wary of unexpected or suspicious looking pop-ups that appear during your online banking session.


Check the online banking security options your bank may provide.