Financial fraud in the UK has hit record levels. According to Cifas, a fraud prevention platform, over 420,000 cases were reported across the UK in 2024. A particular concern is the sharp rise in identity fraud, amplified by the surge in AI technologies in recent years.
While fraud methods are evolving, being aware of the most common scams can help you avoid falling victim to them. Below, we've outlined six types of digital fraud to watch out for, as well as the precautions you can take to protect yourself.
1. ATM Fraud
ATMs remain a hotspot for fraud. Criminals use distraction techniques (e.g. asking if you've dropped something) and tamper with machines to steal your card or cash. They can even insert devices into the card slot of ATMs which trap your card and prevent it from being returned to you, and plant cameras to spy on your PIN.
How to protect yourself:
• Shield your PIN every time you use a cash machine and watch out for people standing nearby who may be looking over your shoulder.
• Avoid machines that look damaged or tampered with.
• Stay by the machine until your transaction is complete - never let anyone distract you.
• If your bank card doesn't automatically eject, stay by the machine and phone your bank - never walk away.
2. Card Fraud
Fraudsters can clone cards, intercept details online, or trick you into using cleverly disguised fake websites. Stolen bank card information may be used for online or contactless transactions.
How to protect yourself:
• Never share or post images of your card online.
• Check web addresses carefully - fraudsters may use unusual domains such as .net.
• Don't rely solely on a padlock symbol in the address bar- verify the full URL.
• Regularly check your bank statements and report unfamiliar payments immediately.
3. Remote Access Fraud
Scammers may impersonate your bank, internet provider, or even an investment firm to access your financial details. They often claim that there's an urgent problem, then pressure you into giving them remote access to your computer and ask you to log in to online banking. Remote access fraud can also be called screen sharing fraud, involving a programme such as Zoom or Microsoft Teams.
How to protect yourself:
• Legitimate companies will never ask for remote access, so hang up if someone does.
• Only install software on your device if you are asked to by someone you know and trust.
• Never share personal or banking details over the phone unless you initiated the call.
• If in doubt, call the company using the number from its official website or the one on your bank card.
4. Emails, Spam Calls and SMS messaging
Fraudsters frequently spoof phone numbers, emails and text messages to appear legitimate. Their goal is to trick you into handing over personal details or security codes, or to click on a link that downloads a virus onto your device.
How to protect yourself:
• Be cautious of unexpected messages about investments, products, or urgent requests for money.
• Never click on unfamiliar links or call numbers you don't recognise.
• Don't share banking codes, PINs, passcodes or QR codes with anyone over the phone.
• If your bank sends you a code saying "don't share this", don't.
5. Mobile Malware
Cybercriminals can conceal malicious malware inside apps using advanced social engineering tactics, enabling them to bypass security systems to steal login details and banking credentials.
How to protect yourself:
• Keep your device updated with the latest security.
• Use password-protected Wi-Fi hubs to protect against man-in-the-middle attacks.
• Install reputable anti-virus software and enable two-factor authentication.
• If your device starts glitching or freezing, check your bank accounts and follow official recovery guidance.
6. Identity Fraud
Identity fraud is one of the UK's fastest-growing threats. Criminals use stolen details, such as your name, address and banking information to open accounts, take out loans or make purchases in your name.
How to protect yourself:
• Keep track of your bank accounts and credit reports for suspicious activity.
• Treat all unexpected requests for personal information with caution.
• Keep sensitive documents secure and shred old paperwork.
Think you've been a victim of a scam?
• Block your card(s) immediately and be wary of requests from fraudsters to unblock your card.
• Contact your bank or payment service provider.
• Change your login and security details.
• To report fraud or access further advice, visit Action Fraud here.
Find out more about Currensea
Currensea is the UK's top-rated travel debit card that securely connects to your UK bank account so you can save on FX fees whilst abroad. To find out more about Currensea and our features, visit our website here.
