First-time buyers are at particular risk of a new breed of scammers, a report has warned.
The NatWest Digital Safety 2018 identified potential scams and suggested fraudsters are ready to steal deposits from those who are desperate to own their first home.
It warned a computer hacker can monitor emails sent by a solicitor and pounce by pretending to be the solicitor and telling them their bank details have changed.
Natwest has warned consumers to be wary of attempts from scammers using the UK’s departure from the European Union to push fake investment opportunities.
It predicted scammers may email customers warning Brexit will decimate their savings, and to move them into a seemingly plausible, but fake, investment product safe from potential Brexit fall-out.
Julie McArdle, security manager at NatWest: "At NatWest, our top priority is keeping our customers safe and secure online. Financial fraud is now the most common crime in the UK, and we want to help our customers understand the different types of scams that might emerge in 2018 and how they can best protect themselves.
"Scammers are dogged in their attempts to get their hands on people’s money and are always looking for new ways to get ahead. This means banks and customers need to evolve alongside scammers too. By being aware and staying ahead of scammers, we can stop them winning and keep the country’s money safe and secure."
The warning comes as the report suggests top ways Natwest expect scammers and fraudsters to try and get their hands on consumers’ cash in 2018.
This includes spying on social media and planting malicious software on smart phones to 'money muling' and even taking advantage of the excitement around the Royal wedding.
To help customers navigate these potential scams, NatWest has developed its top tips for consumers to remember when banking online. This includes advising customers to listen to their instincts – if something feels wrong then it is usually right to pause and question it.
Other advice includes being cautious with what they disclose on social media and to keep their mobile devices’ operating systems up to date to ensure that they have the latest security upgrades.
Adam Rutter, an adviser at Dundee-based Findlay & Company said he always advises his clients to telephone their solicitors and speak in person if they have any doubts about an email they have received.
He added: "I had an occasion recently where I was emailed from my client’s email looking to take out a significant amount from his Isa.
"I contacted the client as the amount was slightly over his Isa holding and he stated he had no idea about the email. He immediately changed his password to stop any further emails being sent.
"The scammers had gone through his emails and realised he had an Isa and that I was his advisor and attempted to gain access to his funds. Whether Brexit or anything else is mentioned in an email always check in person with your solicitor to ensure they sent it."
