Victim of Phishing - What to do Next?

JPMcQueen

My parents have just been victim to fraud to the tune of 30k. Apparently TSB contacted them saying that someone had attempted a transaction that had been blocked but that they will be issued with new cards etc. The scammers then rang posing as TSB and said 'before we release your new cards we just want you to confirm a few details....' The rest is predictable. My parents thought that with the first contact being genuine the second one was too.

The money has been transferred from their business account to a number of accounts at an Irish bank which I appreciate are probably fake accounts and have since been emptied. The TSB seem to want to offer no assistance at all and are basically saying its their own fault.

I've never been in this situation before so dont know what to advise them they should do. Is there anything the bank can do or should be doing? What, if anything, are the next steps?

Shakin_Steve

I would say, on the balance of probabilities, that it was the scammers who rang the first time too. Priming your parents for the second phone call.

DCFC79

Shakin_Steve wrote: »

I would say, on the balance of probabilities, that it was the scammers who rang the first time too. Priming your parents for the second phone call.

Yes could be, used it as a way to put them at ease.

boo_star

Shakin_Steve wrote: »

I would say, on the balance of probabilities, that it was the scammers who rang the first time too. Priming your parents for the second phone call.

It almost certainly was.

Sorry OP, but TSB have no responsibility here, nor is there anything they can do.

Report it to Action Fraud but don't expect the money back.

maninthestreet

So what information did they give the scammers that enabled them to access their account and drain it of funds??

boo_star

maninthestreet wrote: »

So what information did they give the scammers that enabled them to access their account and drain it of funds??

Presumably account login name, password and the confirmation code sent by text when you send money to a new payee.

JPMcQueen

It wouldn't surprise me either if the first call was a scam too. I'm going over at the weekend (I live a fair distance away from them) to see what actually happened.

From what I can gather they gave them enough information to enable card transactions as the money was also transferred to a stockbrokers website. I'm not sure if the transfers were done via online banking or just using the card details. I suppose is just galling that the bank didnt flag the transactions as potential fraud due to them being so far outside the normal pattern of transactions (six transactions of £5000 to various Irish accounts).

tempus_fugit

JPMcQueen wrote: »

It wouldn't surprise me either if the first call was a scam too. I'm going over at the weekend (I live a fair distance away from them) to see what actually happened.

From what I can gather they gave them enough information to enable card transactions as the money was also transferred to a stockbrokers website. I'm not sure if the transfers were done via online banking or just using the card details. I suppose is just galling that the bank didnt flag the transactions as potential fraud due to them being so far outside the normal pattern of transactions (six transactions of £5000 to various Irish accounts).

The problem is that even when they do this it is circumvented by the account holders passing on the security codes or authorising the payments via the automated phone call that some of the banks (such as Halifax/Lloyds) make following such transactions. I suppose they could start doing phone calls personally via their staff during which any fraudulent activity would be unearthed but the problem is how far do we go down this route? Where is the line drawn as to when this should happen and when it shouldn't. Aside from the extra cost to provide the service, it could then become much more inconvenient for users making legitimate transfers to do so, and a balance has to be maintained.

OceanSound

JPMcQueen wrote: »

It wouldn't surprise me either if the first call was a scam too. I'm going over at the weekend (I live a fair distance away from them) to see what actually happened.

From what I can gather they gave them enough information to enable card transactions as the money was also transferred to a stockbrokers website. I'm not sure if the transfers were done via online banking or just using the card details. I suppose is just galling that the bank didnt flag the transactions as potential fraud due to them being so far outside the normal pattern of transactions (six transactions of £5000 to various Irish accounts).

You'd think that after the 3rd or 4th time, it would have been flagged, and any further transfers blocked (especially if done within few hours).
Not so long ago, I did a transfer from Halifax bank to first direct to the tune of around 1000 pounds, then transfered 1 pound from Same first direct account to Halifax account before transferring back the 1000.

That final transaction was delayed (presumably for fraud checks). You can read about it on my previous posts. All these transactions were done from my accounts, they were going back and forth to/from my own accounts. Yet, the system flagged. So you really have to wonder, how many transactions are incorrectly flagged, yet some slip through the net. I don't think there is enough done to prevent the one's that slip through the net. Instead genuine customers are just inconvenienced.

@OP: You can join someone like 'which' consumer magazine and ask for advice. Also try citizens advice. Also get parents to check their credit file. They're some free one's like, MSE's credit club where you (parents) can check it online, or pay 1-2 quid and get the paper version (from experian)