Nationwide customers have had money taken from their accounts as the world’s largest building society issued a warning
Nationwide has introduced a new safety feature(Image: Getty)
Nationwide has issued a warning to its millions of customers after members of the bank have had money taken from their accounts. The largest building society globally has added a new feature which can be found in the Nationwide banking app.
Nationwide has introduced its Call Checker feature, which provides customers with the peace of mind of whether they’re genuinely speaking with a staff member or being targeted by a scammer. The new service comes as Nationwide’s research found that the average Brit receives eight fraudulent calls a month, or two every single week.
Impersonation scams cost victims millions of pounds each year, with Nationwide’s customer data showing they account for 17% of all reported fraud cases. Criminals impersonating banks or building societies target people across all age groups.
However, Nationwide’s data reveals those over 65-years-old are particularly vulnerable to these scams, accounting for 55 per cent of victims. Around one in six, equating to 16 per cent, of people aged 18-34 and nearly two in ten, 19 per cent, of those aged 50-65 have also fallen for the cons and had money removed from their accounts, the Mirror reports.
Call Checker provides customers with additional reassurance that they’re speaking to a real Nationwide colleague. It works alongside the existing Scam Checker service, which is used by 100,000 people and stops £300,000 monthly from being stolen by fraudsters.
The new feature allows Nationwide members to immediately verify whether their call is genuine through Nationwide’s banking app. Customers simply have to open the app, navigate to ‘More’, then ‘Call Checker’, and will instantly be able see whether they’re on a call with Nationwide.
The screen will then display either “You’re on a call with Alex” or “You’re not on a call with us.”
Scammers are becoming more brave that ever in their attempts to impersonate banks.
Data finds that 50 per cent of fraudsters ask victims to share personal details and 34 per cent ask for security codes.
Meanwhile, 31 per cent ask for money to be transferred with 15 per cent even instructing victims to deceive their own bank or building society.
This allows them to access their victim’s bank account and by encouraging them to lie by often suggesting that they state they’re making a payment to family or friends, they can avoid being caught out and bypass the stringent checks associated with high-risk payments like investments.
Jim Winters, Director of Economic Crime at Nationwide, warned: “Scammers are becoming more sophisticated, and impersonation calls are one of the most common ways they trick people into handing over money.
“We are programmed to trust people and when someone uses clever tactics and well-practised scripts – often putting us under pressure or making us panic – it can be hard to know who to trust.
“Our Call Checker feature gives our customers peace of mind by confirming if a call is genuine, or not.
“It’s a simple and effective step that could prevent someone from becoming the next crime statistic.”
