“People can also report this content in a few simple clicks and we work with the police to support their investigations. “We don’t want anyone to fall victim to these criminals which is why our platforms have systems to block scams, financial services advertisers now have to be FCA authorised and we run consumer awareness campaigns on how to spot fraudulent behaviour. TSB fraud experts urged consumers to stick to recognised investment platforms and to avoid social media “get rich quick” schemes.Ī Meta spokesperson said: “This is an industry-wide issue and scammers are using increasingly sophisticated methods to defraud people in a range of ways including email, SMS and offline. The research also found that scams taking place through Meta account for almost 87% of all investment fraud cases at TSB, and they predominantly begin on Instagram and Facebook. We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. ![]() For more information see our Privacy Policy. ![]() Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. Learn more TSB Bank will be closed from Noon to 3:00 pm Good Friday, April 7th. They get in touch via WhatsApp or another messaging platform and gain the target’s trust before asking for money. TSB Bank - Homepage Given the recent bank closures over the weekend, TSB Bank’s Board of Directors and senior management would like to express the strength of community banks. The scam involves a con artist posing as a friend or relative of the victim. “Family and friends” fraud cases via the mobile messaging platform rocketed by 300% in a year, according to TSB analysis of its fraud data, and the bank refunded more than 550 victims. Impersonation scams originating on Meta’s platforms accounted for 86% of cases in that category recorded by TSB between 20, with two-thirds of those incidents coming from WhatsApp. “It’s high time that social media and telephone companies took financial liability for the rising levels of fraud taking place on their platforms.” “In the meantime, we are urging the public to remain cautious to potential scam content – and to spread the word to help protect those around you. Paul Davis, the director of fraud prevention at TSB, said: “Social media companies must urgently clean up their platforms to protect the countless innocent people who use their services every day. (Please note that due to the schemes' eligibility criteria not all TSB business customers will be covered by these schemes).Its findings follow the announcement on Tuesday of a government crackdown on scammers in response to the massive growth of web-based fraud, including a ban on technology that allows mass texting of numerous phones. TSB Bank plc is covered by the Financial Services Compensation Scheme and the Financial Ombudsman Service. Read more about our lending commitments to you (PDF, 400KB). TSB adheres to The Standards of Lending Practice for business customers which are monitored and enforced by the Lending Standards Board. The first bank in the UK to offer this level of cover to customers. We offer more fraud protection than any other UK bank. Guaranteed protection from fraud on your TSB account up to 1 million - T&Cs apply. Visiting Saturn this bank holiday weekend. The only bank in Britain to offer a fraud refund guarantee. SC95237.Īuthorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 191240. With tsbbank money doesnt have to be the elephant in the room. Registered Office: Henry Duncan House, 120 George Street, Edinburgh, EH2 4LH. Not all telephone banking services are available 24/7. Your Business Banking Call Centre is available from 8am to 6pm Monday to Friday and 9am to 2pm Saturday (excluding UK public holidays).Ĭalls may be monitored and recorded in case we need to check we have carried out your instructions correctly and to help us improve our quality of service. ![]() If you have a hearing or speech impairment you can contact us using Text Relay or Textphone on 03 (lines are open 8am – 6pm Monday to Friday, 9am – 2pm Saturdays). Technical failures in TSB’s IT system ultimately. If you’d like this in another format such as large print, Braille or audio please ask in branch. Registered office: Henry Duncan House, 120 George Street, Edinburgh EH2 4LH. The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have fined TSB Bank plc (TSB) a total of £48,650,000 for operational risk management and governance failures, including management of outsourcing risks, relating to the bank’s IT upgrade programme.
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