UK major banks alert customers about online investment scams

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UK major banks alert customers about online investment scams

Major UK banks, including Santander (BME: SAN ), Lloyds (LON: LLOY ), Barclays (LON: BARC ), HSBC, and NatWest, have issued a warning to their customers about an online investment scam leading to substantial debts. The scam involves fraudulent companies masquerading as legitimate entities with positive reviews, luring victims through deceptive online advertisements.

As reported by BirminghamLive, the scam has already resulted in significant losses. A man in his 20s from Nottinghamshire fell into a debt of £118,500 due to six loans he was liable for, while a woman in her 60s incurred a debt of £24,000. The victims are now obliged to repay these loans and are filing claims with the help of the police for the loans to be written off.

Kirsty Jackson, a Cyber Protect Officer, has emphasized the importance of not granting remote access to devices unless requested by a trusted individual. She warned that scammers could misuse remote access tools to steal personal information and bypass security measures such as Face ID verification and Secure Key codes sent by the bank.

The UK police have also advised the public to be cautious about unsolicited calls or messages requesting access to their devices. They reiterated that these scams often disguise themselves as legitimate companies and exploit individuals' trust to carry out fraudulent activities.

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