In today’s digital age, scams and fraud continue to evolve, posing a significant threat to individuals, financial institutions, and businesses. Two particularly concerning types of scams are social engineering and authorized push payment (APP) fraud, which are on the rise in the UK. Fraudsters employ psychological tactics and manipulation to deceive victims, making it essential to have robust prevention measures in place. Outseer, a leading fraud prevention company, offers solutions to safeguard against these scams and protect consumers and businesses.

Understanding UK Scams

In the United Kingdom, various scams target unsuspecting individuals. Among them are:

  1. Fake Websites: Deceptive websites, cleverly designed by fraudsters, convincingly masquerade as legitimate online stores. Shoppers, without realizing it, place orders and make payments for products that will never be delivered. This falls under the category of Card Not Present fraud, and we provide a dedicated exploration of how to counter this threat in our blog titled Unlock the Potential of Outseer 3-D Secure ACS: Empowering the Fight Against Scams.
  2. DPD Scam: Scam text messages and emails, purportedly from delivery company DPD, claim missed deliveries or request additional fees. Victims are directed to fraudulent sites to input personal information.
  3. Amazon Scam: Fraudsters impersonate Amazon through automated phone calls, claiming customers’ Prime subscriptions are expiring. They prompt individuals to press numbers, eventually obtaining personal details and potentially draining bank accounts.
  4. Royal Mail Scams: Scammers send emails, text messages, or make calls pretending to be Royal Mail, often requesting payments for rescheduled deliveries or underpaid postage. Falling for these scams can result in financial losses.
  5. Coupon Scams: Offers for discounts or special deals sent via text messages or WhatsApp may seem tempting but are often fraudulent, attempting to steal personal information.
  6. Job-Related Scams: Job seekers face scams that request upfront payments for security checks, training, visas, or insurance. Premium rate phone numbers are also used to accumulate charges. Work-from-home scams can lead to unwitting involvement in money laundering.
  7. Computer Service Software Fraud: Fraudsters pose as broadband providers, claiming technical issues that require remote access to victims’ devices. This access is exploited to steal money from bank accounts.

These scams involve social engineering tactics, manipulating individuals through fear, urgency, and deception. Victims often suffer financial losses and emotional distress. Financial institutions face significant reputational harm.

Outseer’s Comprehensive Approach to Scam Prevention

Outseer recognizes the gravity of these UK scams, social engineering, and APP fraud and offers a multi-layered approach to mitigate these threats effectively:

Layer 1: Limit Access to Sensitive Information

Outseer’s FraudAction service helps limit fraudsters’ access to customer credentials and personally identifiable information (PII), reducing the risk of social engineering.

Layer 2: Efficient Tracking of Scams

Outseer’s Fraud Manager allows organizations to tag and analyze scam cases, enabling efficient tracking and analysis of these threats, including specific UK scams.

Layer 3: Smart Friction for Prevention

Outseer’s Fraud Manager introduces smart friction, asking confidence questions to users during payment transfers, preventing costly mistakes resulting from social engineering tactics.

Layer 4: Community Data Sharing

Outseer’s Global Data Network facilitates the sharing of fraud data and signals across organizations, enabling collective protection against social engineering and APP fraud, including UK-specific threats.

Layer 5: Customized Policies

Outseer’s policy manager empowers organizations to create specific rules targeting social engineering, APP fraud, and UK scams, including high-risk transaction criteria.

In a world where scams and fraud constantly evolve, Outseer remains committed to developing solutions that stay one step ahead of fraudsters. Protecting against UK scams, social engineering, and APP fraud is crucial, and with Outseer’s comprehensive approach, you can fortify your defenses against these threats and secure a safer financial future for you and your customers.

To chart a course forward in these changing times, UK banks are joining Outseer Connect—an invaluable platform where industry leaders from leading banks and financial institutions converge. Here, participants can engage in in-depth discussions with peers, gaining fresh insights into scam prevention and AI in fraud and its far-reaching impacts. Outseer Connect offers a unique opportunity to exchange ideas, share experiences, and stay at the forefront of innovative strategies that safeguard both financial institutions and valued customers.

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Oliver Ludlow

Senior Solution Consultant - EMEA

Oliver Ludlow, a seasoned Senior Solution Consultant (EMEA) at Outseer, plays a pivotal role in assisting financial institutions and payment services by offering comprehensive solutions for payments fraud and consumer authentication. With a wealth of experience in the industry, Oliver has established strong relationships with customers and technical development teams, allowing him to leverage his expertise effectively. His vast knowledge and skill set enables him to help institutions to combat fraud effectively while ensuring a seamless and frictionless customer experience. Oliver’s dedication to the field is evident in his ability to apply his extensive knowledge to prevent fraud and optimize customer satisfaction.