Your first 60 seconds from spotting bank fraud
If you have noticed bank fraud on your account, money being spent which you didn’t authorise or information you know has been stolen then it is important to act as quickly as you can.
Bank fraud is a common crime and there are lots of ways you can protect yourself and your accounts.
When you notice fraud your first step will mostly likely be to panic so let’s get that out of the way to spring into the steps that will help you most.
The quicker you react the most likely it is to prevent any lasting damage, regain control of the accounts and be able to get your money back.
Step 1
You shouldn’t freeze, but you should freeze your bank account.
Most banks will have the option on your mobile phone app to freeze your own bank account.
This will prevent any more money being spent and save your finances.
Step 2
If your phone was stolen then you should make sure your banks are secure first as they could have found out your passcodes to access apple pay, your bank app and aim to drain your funds.
This means you won’t be able to do step one yourself.
Log onto your online banking or contact your bank straight away to make sure they freeze your accounts.
Step 3
Letting your bank know that you suspect fraud on your account should be done as quick as possible. The quicker you can get to this step the most likely it is that the bank can help you.
They will be able to investigate and you may be able to get money back that was fraudulently spent.
They can also protect the rest of your money by blocking the last card and information setting you up with new pins, passwords and a new card for the account.
