Reassura Guide: How to Avoid Bank Account Fraud

Reassura Guide: How to Avoid Bank Account Fraud

Fraudsters are desperate to get their hands on your personal information; their favourite kind is the kind relating to your bank account. Bank account fraud occurs when your bankcard or account information has been stolen either as a direct result of identity theft or by other means. According to Financial Fraud Action last year there were over a million cases, that’s 1 every 15 seconds and total losses of more than £755 million.

Most Common Bank Fraud

Identity Fraud

This occurs because of identity theft, when cards or account information has been stolen. Fraudsters use what they know about you to open bank accounts, make online purchases and create fake identities to take out loan and credit agreements.

ATM Fraud

The most common types of ATM fraud are card entrapment and card skimming. In the case of card entrapment, fraudster fit a device into the cash machine that prevents your bank card from being released. The perpetrator then waits until you leave the ATM machine before removing it. Card skimming uses a special device that is inserted into the ATM, but this time the details held in the magnetic strip are copied from your card to be used in the future. This is also sometimes referred to as “card cloning.”

PIN Fraud/Distraction Fraud

Criminals use a variety of cunning techniques to discover your PIN number. They may attempt to distract you while using the ATM.


ATM scammers also employ the use of hidden cameras that capture you card details and PIN. The cameras will usually be hidden in an inconspicuous place, so when using a cash machine always take a little time to visually check for anything unusual.

Tips to Avoid Becoming a Bank Fraud Victim

  • Dispose of it! – Safely dispose of any documentation that includes personal details such as your name, address, date of birth etc. by shredding.
  • Keep it secret! – Never reveal your passwords or account information to anyone. Your bank nor any other financial organisation will never ever ask you for this also don’t write them down anywhere. Cover your PIN from anyone who may be looking over your shoulder.
  • Check – your bank statements regularly and look out for any suspicious or unusual transactions.
  • ATM looks different? – Don’t use it!
  • Ignore – anyone who tries to talk to you or distract you (even if they are appear friendly, vulnerable or sincere)
  • Unsure– call Reassura’s Fraud Advisors on 0800 888 6400 and get a second opinion.

 What to Do if You have been the Victim of Bank Fraud

  • If you are using a cash machine and your card is not returned immediately, contact your bank and alert them of the situation.
  • Notify your bank immediately if you think you may have been a victim of bank account fraud, the number is on the back of your debit card.

Reassura is dedicated to helping raise awareness of scams and fraud and the impact they have on their victims.  Reassura’s team of specialist anti-fraud advisors are on-hand to offer advice designed to help individuals make better informed decisions and avoid the unpleasant consequences of becoming a victim. For further information visit: or call 0800 888 6400

See also: The Reassura Video Guide to Bank Account Fraud