Fake NatWest text messages appearing in message threads

Smishing - Online Banking Frauds  

The scam related to NatWest messages finds fraudsters using specialist software to modify the ID of the sender of the messages. The message is sent by the firm claiming to be a modus operandi to secure the account. 

Several bank customers said they were getting messages that appeared to be coming from NatWest, and most such messages were added to their list of bank messages. 

Such messages are dangerous, and scammers wait to see the customers' reactions. If they click the links, they are redirected to an exact copy of the original bank website that asks the user to enter details (personal or bank) like full name, contact information, debit card number, etc. 

It is called smishing, where users believe they are interacting with the actual site, but in reality, they receive spam messages from a con site.

During the lockdown, many clients of the online banking site reported it, and Action Fraud had to alert customers of the online bank site to raise awareness regarding such types of crimes. 

How Is The Crime Committed?

People get apprehensive text messages from online banks where they are asked to follow a procedure to rectify an issue in their account. They are asked to click on a link and fill in the forms or enter details to avoid the deactivation of the account. Some receive calls stating they are from NatWest Security and want to code from the user's mobile message sent by the bank. 

If the user gives the code, another number replaces the registered phone number, and their funds are transferred to another account.

How to avoid such scams:

• Avoid buying deals that are too good to be true.

• Before placing an online order, check if the merchant has a refund policy or if they own a landline where you can contact them directly.

• Find out the reviews of online sites/ products to see if there are any negative reviews. If you doubt, do not purchase. 

• Getting unsolicited calls, messages, or emails from the bank can trap you because authorised firms or regulatory organisations never ask for full PIN, password, or reader codes. In addition, they may not ask to transfer funds from your account to another. 

• A genuine banking firm should never ask for the security code they send because the codes are used to ensure security, and the user should not share it with anyone. Also, one should not share their online bank account details with anyone on calls or messages.

Natwest customers reported they were redirected to fake adverts on Google, eBay, Facebook and Instagram. As a result, they are advised to use VISA or Mastercard for online shopping and avoid suspicious deals online.

It is probably a scam if you are asked to pay directly from an online bank account to the merchant's accounts. If the online store fails to deliver the goods, the user will lose money. Carefully read the terms and conditions of the online shopping/auction sites to avoid a loss.