The latest business fraud and scams to be aware of

Through our network of banking and financial experts, as well as clients reporting being affected by scams, LWA have been made aware of a new spike in fraudulent activity on unsuspecting businesses. Take a look at our latest blog below to help ensure you don’t get caught out, and what to do in the unfortunate case that your business is targeted.

The latest fraudulent schemes affecting businesses

Banking fraud: 

Banks have reported their customers are being called by someone purporting to be from the bank, advising that payments are being held for checks, and asking customers to give them access via a link they have provided. 

The fraudster then shares a website URL link for the customer to access to enter a ‘Live Chat’ to authenticate the payments, however, please note that whilst the link takes you to a legitimate banking website page, in reality, this URL will download remote access software to the individual’s computer.

Whilst taking you to the bank’s website, there appears to be a 10 second period of ‘ghosting’ where it provides what appears to be the bank’s branding / imagery on the page but behind that image is a link to an app called ‘Anydesk’, which is a remote-takeover type of software. The bank’s imagery then disappears after 5/10 seconds. Fraudsters then coerce the customer into divulging security details and passcodes, which are used to make payments.


Job application checks:

Fraudsters are using LinkedIn and Indeed to target job hunters using the platform to search for jobs. After applying for what seems like a legitimate job and being acknowledged by a fraudster that is impersonating someone that genuinely works at the organisation, rather than asking for an interview, they ask you to pass verification checks with another company. This company is a cryptocurrency exchange platform that ask to send a picture of your driving licence or passport, and a selfie holding your ID and a piece of paper with the name of the cryptocurrency platform and the date written on it.

There are also Malware scams on the increase on LinkedIn. Read more in the Which? article here.


Other scams still in prominence

Travel and Event Booking: Many outdoor events and concerts have been taking place over the summer and most that are coming up are already sold out, yet fraudsters are profiting from people wanting to get places.

With the school holidays coming up, the public are also being warned about email impersonations of trusted travel agencies and hospitality firms offering discounted rates.

Missed deliveries: As more organisations return to increased working in the office, you may return home to find you’ve apparently missed a parcel delivery by notification of an email or text message. These fake alerts are mostly claiming to be from Royal Mail or DPD asking for an ‘extra postage payment’ or the item will be returned to the sender.

This is followed by a phone call after a few days telling the victim their bank details have been compromised and the funds should be transferred to a ‘secure’ account – be warned that the phone calls are from the fraudsters themselves!

Pension related fraud: There are scams in circulation offering ‘free pension reviews’ or offering to help you release money from your pension. The Pensions Regulator advises that pension savers should visit The Pensions Advisory Service website for unbiased guidance or get financial advice from an FCA-authorised financial adviser, to avoid losing a lifetime of savings in an instant, to unsympathetic fraudsters.


Here’s what to do if you’ve been scammed

In the worst-case scenario, if you have been a victim of fraud, time is of the essence in order to maximise the chance of funds being retrieved so contact your bank ASAP. 

Report fraud to Action Fraud by calling 0300 123 2040 or online at

Visit the Take Five to Stop Fraud website to protect yourself when booking holidays or events online.

Always check with the retailer that you have placed and order with for delivery updates before assuming you’ve potentially missed a delivery.

If you’re an employer in the process of hiring new staff, it may be wise to ensure your onboarding programme outlines your protocols for background checks and training, and to provide contact details for potential employees wishing to check requirements should they receive such financial requests.


As always, the LWA team are here to help, and we hope you have found this blog to be useful. If you are concerned about the impact of fraud on your accounts, please get in touch with your dedicated contact on 0161 905 1805 in our Manchester office, or 01925 830 830 in our Warrington office.