Security Statement

At Arbuthnot Latham we take fraud seriously and have a number of preventative measures in place to ensure that you do not become a victim. However, it is important that you also take steps to protect yourself and your accounts.

Should you fall victim to fraud, you are protected by legislation called the Payment Services Regulations. These regulations ensure the Bank will compensate you for any loss you should incur, provided you have not acted fraudulently or without reasonable care.

The list below summarises common types of fraud you may encounter and provides some tips on how to avoid them.

Phishing

Phishing is a practice whereby fraudsters send you an email claiming to represent well-known organisations (e.g. a bank or social media site), and request personal information such as your bank details for verification or recording purposes. Some phishing emails will threaten to delete any accounts you hold with the organisation they claim to represent, in order to scare you into providing the requested information.

Though these threats are very concerning, we advise that you:

  • Do not respond to any emails of this nature.
  • Limit the amount of personal information you share online.
  • Contact the organisation from where the email claims to represent to check if it is genuine.
  • Ensure you enter your bank details on a secure network signified by a padlock in the top left hand corner of the browser window.

Malware Viruses

Malware is malicious software designed to interfere with the performance of electronic devices, such as computers, tablets or phones. Your device can become infected with malware viruses if you open links or download software or files from suspicious websites and emails. These viruses can log personal information and passwords that you input onto your infected phone or computer and pass them on to a device controlled by the fraudster.

In order to protect your electronic devices from viruses we suggest that you:

  • Install and keep up-to-date antivirus software on your computer.
  • Ensure your Firewall is switched on.
  • Avoid opening any links contained in pop-up adverts and irregular emails.

Boiler Room Scams

Boiler room scammers call your home or mobile phone claiming to be from reputable organisations. They use high pressure tactics in an effort to persuade you to buy a fraudulent investment. These investments are often worthless or have minimal value and are unlikely to appreciate over time.

If you are uncertain about a call of this nature, you should:

  • Record the name of the person calling and the firm they claim to represent.
  • Check the firm against the FCA Financial Services Register.
  • Call the FCA’s consumer helpline on 0800 111 6768 to check whether the salesperson is on the register and has the authority to make investment sales.
  • If the firm in question is on the register, conduct an independent check by calling the company to confirm the salesperson is genuine and employed by them.

Cheque Fraud

Despite the use of cheques declining in the last decade, cheque fraud remains common and can occur in a variety of ways. Fraudsters can intercept cheques before they reach the intended payee and alter the amount to be paid or the name. It is also common for fraudsters to forge cheques. Though these forged versions lack the authenticity of originals, they often look identical to an original and, as a result, are occasionally authorised.

To avoid this type of fraud you should:

  • Fill any gaps on the narrative and amount boxes with a horizontal line.
  • Send a cheque by recorded post if you have to mail it.
  • Contact the payee to confirm they have received and paid-in the cheque as expected.

Debit and Credit Card Fraud

This type of fraud covers instances where fraudsters use stolen credit or debit cards to buy goods or services. It is particularly important to be aware of card fraud given the development of contactless payment technology. Those using stolen cards will not need your PIN to process payments in stores with contactless card readers.

We advise that you:

  • Memorise your PIN and shield the number pad when entering it at a cash point or retail store.
  • Never share your PIN with anyone.
  • Always keep your card secure in your wallet or purse.
  • Always keep your card within your sight when handing it over to a cashier.
  • If your card is retained by a cash machine, contact the owner of the cash machine immediately and notify your bank to cancel the card.

Arbuthnot Latham Protecting You

Should you fall victim to fraud, you are protected by legislation called the Payment Services Regulations. These regulations ensure the Bank will compensate you for any loss you should incur, provided you have not acted fraudulently or without reasonable care.


Reporting Fraud

If you believe someone has made a fraudulent attempt on your account, copied your card or obtained your PIN, contact us immediately or the FCA’s consumer helpline on 0800 111 6768. Alternatively, you can report a fraud on http://www.actionfraud.police.uk/.


Additional Information

Payments protected by Verified by Visa:

http://www.visaeurope.com/making-payments/verified-by-visa/

Financial Conduct Authority – Protect yourself from unauthorised firms:

http://www.fca.org.uk/consumers/protect-yourself/unauthorised-firms

Get Safe Online:

www.getsafeonline.org