'Instant red flag' How to spot a bank scam – 7 expert tips to avoid fraudsters

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'Instant red flag' How to spot a bank scam – 7 expert tips to avoid fraudsters

He continued: “They won’t ask you to withdraw or transfer money to any other account, or send someone to your home to collect cash, a PIN number, c

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He continued: “They won’t ask you to withdraw or transfer money to any other account, or send someone to your home to collect cash, a PIN number, cards or cheque books. So if you are asked to do this, it is an instant red flag.”

This also applies to Monzo, which would never call without arranging it through in-app chat first.

Mr Drewe said: “[Monzo] will also never ask you to share any sensitive information about yourself or your account, or move your money out of Monzo and into a different account – and a real bank will definitely never tell you to take out a loan.”

How to avoid online fraud

Set strong passwords

The best way to avoid hackers finding their way into accounts is by setting strong bank passwords that are not predictable, for example, your date of birth or family names.

Mr Drewe advised: “To make your passwords more secure, use a mix of lowercase and uppercase, numbers and make them 12 characters long.



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