Scams and Frauds

A fraud is when there is suspicious activity or when a transaction debits your accounts which you had no knowledge of or didn't authorise.

A Scam is when a criminal convinces you to knowingly authorise a payment from your account to a person, company, or for goods you believe to be genuine.

Protecting your Card
Sign and activate your new card as soon as you receive it.
You can activate your card either through internet banking, by calling us (using the number in the useful contacts below) or by using an HSBC ATM (for Visa debit cards, unless a new PIN has been issued).
Contact us (using the number in the useful contacts below) if your replacement card does not arrive a week before your old one expires.

Protecting your PIN
Never write down or otherwise record your PINs and other security details in a way that can be understood by someone else.
Destroy your PIN advice as soon as possible.
Choose a PIN number that cannot be associated with you and isn’t a sequence such as 1234 or 1111. Ideally choose a random combination or a sequence of numbers which are important to you.

Protecting yourself at the ATM
A device may have been fitted to the ATM, which could enable the fraudster to steal your card or capture the information contained within the magnetic strip. If you notice anything unusual attached to the ATM, do not try to remove it. Move away from the machine and call our Lost and Stolen Cards team (using the number in the useful contacts below) or the police.
Always stand close to the machine and use your hand as a shield over the keyboard. Criminals may try to watch you entering your PIN, before trying to steal your card.
If the cash machine does not return your card, do not re-enter the PIN. Report the loss of your card to our 24 hour Lost and Stolen Cards team (using the number in the useful contacts below).

Protecting your company cards over the Telephone
When making card payments over the phone, you should have your card in front of you as you may be asked information such as expiry date, issue number and the three-digit security code on the signature strip. However, NEVER divulge your PIN over the telephone, even if asked.
Try to avoid saying your card information in public places where people may overhear.
Request postal or email confirmation of the transaction.

Protecting yourself whilst using your card in person
Try to use your hand as a shield when entering your PIN.
If you encounter any problems whilst using your card, please call our Customer Telephone Service team (using the number in the useful contacts below).
Please keep your cards in a secure place at all times.

This fraud type involves the alteration, forgery or counterfeiting of cheques drawn out your Business account. To help your company not become a victim of cheque fraud, below are some tips on how to try and minimise this risk -
Check your cheques. Add extra information to them, like an account reference number.
Use your full signature when you sign your cheques – not just initials.
Match your cheque counterfoils to your statements. Let us know about discrepancies.
Keep any spare chequebooks in a safe place.

Using a variety of methods, criminals may obtain important pieces of personal and identity data such as credit card numbers, expiry dates, dates of birth or mothers’ maiden names. This information can be used to gain access to bank accounts or open new credit facilities.
Help to minimise this risk by following these simple steps:
Shred all receipts or any letters, which contain your business name and address or personal information. Switch off your postal statements to prevent unnecessary documents being sent via the mail.
Set up a telephone security number, as this is a secure way for us to identify you when you call us.
Don’t give your telephone security number out to anyone who contacts you. HBSC will NEVER ask for your telephone security number if WE call YOU.
If you have lost or had stolen important documents such as a passport, consider registering for the CIFAS Protective Registration Service (see link below).

Criminals can prey on companies that are experiencing financial difficulties or can commonly target small businesses to act as “money mules”. This means you agree to allow money to be transferred through your bank account, often in exchange for payment. You’ll be asked to provide your bank details, receive a payment into your account and then, either withdraw it in cash, or transfer it to another account. However, the money being transferred is usually stolen or the proceeds of financial crime and used to fund organised crime.

In addition, money mules can target businesses by offering them the opportunity to be part of a lucrative contract or to act as a “middle man” within a business transaction. A common example of this would be asking you to process a payment or move funds for a third party. Job adverts and spam emails offering ‘easy money’ might seem a harmless way to earn income. However, this could be another way to recruit money mules.

If you’re caught, your bank accounts will be closed and you’ll have problems applying for a loan, a mortgage or even a mobile phone contract. You may also be given a prison sentence of up to 14 years. To learn more about the consequences of becoming a money mule and what the proceeds of money laundering are used for, check out the Don’t Be Fooled website at: moneymules.co.uk.

Remember: If you’re approached to be a money mule, you should turn down all requests. Don’t give out your financial details or be tempted by the opportunity to make some quick money - as it will affect your future finances. If you’re contacted out of the blue to process a payment for a third-party or be part of a contract, make sure that you’ve conducted robust due diligence into the requesting company and that you clearly understand the part that you’re playing in the transaction.