Page 10 - PA_Enterprise_June-July_2021

PA Enterprise

1 in 4 of us would transfer all

of our money to a scammer

A recent survey conducted by KIS Finance has revealed worrying statistics

regarding safe account scams.

• 48% have either never heard of safe
account scams, or they have heard of them
but wouldn’t know how to identify one.
• 25% would transfer all of their money to a
‘safe account’ if someone that they believed
to be from their bank, or a police officer,
called them and said their bank account
had been compromised.
• 47% of those aged between 25 and 34
would transfer all of their money to a ‘safe
account’ if someone that they believed to
be from their bank, or a police officer, called
them and said their bank account had been
compromised.

The survey asked 2,000 participants whether
they know what a safe account scam is and, more Why are safe account scams such a huge
importantly, whether they think they would fall problem?
for it and transfer their money to a scammer. As the value of these scams can be so substantial
Over a quarter (25.7%) of people said that they for the scammers conducting them, the number
would transfer all of their money to a so-called of cases is continuing to grow.
‘safe account’. This is if they received a phone According to Santander, the number of reported
call from someone (that they believed to be a safe account scams rose by 53% in 2019 (the latest
police officer, or a bank representative) telling data available) compared to the previous year. The
them that their bank account has been accessed average amount lost per case was a staggering
by scammers and their money is at risk of being £5,634.
stolen.
In safe account scams the fraudsters cold-call their
This figure rises sharply in the 25-34 age category victims and pose as either a bank representative
with 47% of this group stating that they would or as a police officer. If they’re posing as a police
willingly transfer their money to a ‘safe account’ if officer, they will usually tell the victim that their
they received one of these calls. bank account has been accessed by scammers. If

PA Enterprise is published by
10 June/July 2021