What is FRAUD and SCAM?

What is FRAUD?

Fraud is when another person steals your account or personal information, without your knowledge and consent, and makes transactions on your behalf.

What is SCAM?

Scam is when an imposter tricks you to gain benefit, by making you take action with false information.

What are the main FRAUD&SCAM methods?

Friends and family

Scammers can demand money from you by impersonating others, calling you, or via social media or texting. Before making the transaction, we recommend that you call people you know and get confirmation. If a bank employee, police or someone claiming to be calling from a reputable company contacts you and asks you to send money from your account, it's a scam! Do not continue!

Transfer to another account

If someone instructs you to move your money to another account �to keep if safe�, it�s definitely a scam. Do not continue. No legitimate company or organization will ever ask you to transfer funds from their account. Scammers can copy phone numbers to look legit. You should definitely call a reliable number on a web page you trust.

Partner or love interest

Never send money to someone you haven't met in person. If you've met someone new online or on a dating site, you need to make sure it's real. Scammers often pretend there's a family crisis or emergency to get you to send them money. Always be extra careful if they say they are abroad. If you're not sure, you can talk to someone you trust first.

Invoice,e-invoice or tax

Scammers can get hold of emails and invoices and change their bank information accordingly. They can also create original looking invoices or tax documents. Confirm the request and account details by calling the company in question. When calling, call a number from a trusted source such as an official website � never use the number from the invoice or email.

Lawyer, rental or property

Scammers can intercept e-mails and invoices from lawyers and real estate agents and change their bank information accordingly. Confirm your account details by calling them. If they called you first and you don't recognize the voice, say you will call back. When redialing, use a number from a trusted source, such as an official website � never use the number from the invoice or email sent. If you're paying for a rental property, you can visit the property first to make sure it exists.

Craftsman or construction work

Scammers will sometimes pretend to be shopkeepers and tell you there is work to be done at your house- be wary of any calls. Before doing anything, do your research by getting a second opinion and reading online reviews. Be sure to pay for work at agreed stages, not upfront. If you're asked for an upfront fee to buy something or unexpectedly pay for something, question what you're paying for and do your own research first. Never reveal PINs, passwords, one-time passwords or personal details over the phone or online chat support.

How can you protect yourself from fraud and scam?

First of all, we recommend that you make sure that a transaction is genuine before making any transfer.

Someone you don't know unexpectedly contacts you and asks for money,
If you are asked to quickly transfer money to another account
If you are asked to move your money to another account to keep your account or money safe,
If you are asked to pay for something
Unusually, someone treats you like a friend or family member in need
Asks you to provide your personal information or password
If they call from the bank or financial institution and ask for your password or personal information

You should consider the possibility that all this could be a scam.

How to make sure it�s not fradulent?

Don�t rush

An organization you trust will never pressure you to pay. If you're not sure, talk to a friend or family member or call us. If it looks too good to be true, it probably isn't! Scammers can spoof phone numbers and make their emails look legit.

Double Check

If you get an unexpected call from your bank, HMRC, or other organization, hang up, google their official number, and call them back. If you've received an email from a friend, landlord, or someone else asking you to transfer money, try contacting them using a different method. Scammers can spoof phone numbers and make their emails look legit.

Pay by card

If you're being offered something very cheap on social media, it's probably a scam. Buy from a trusted seller where you can check verified reviews. If possible, pay by card instead of money transfer: Card payments are better protected and a scammer When you send money, it's harder to get your money back.

Top tips to avoid scam messages

Never transfer funds or give personal/bank details for a pop-up message.
Click carefully- Click on a link or download an attachment only if you're sure it's genuine.
Check the spelling and layout of the text- Reply and delete if there are errors or if it looks strange in any way.
Don't rush- A scammer may use warnings or threats to get you to act without thinking.
Double check before paying - Confirm payment details before paying an invoice.
Call the person or business from a number you trust, not from an invoice or message.

Frequently asked Questions

Our reccomendations will be; not to accept any offer of money. A fraudster may ask you to accept money from them into your own account, using a convincing story as to why they can�t use their own account.

Be suspicious of any requests for money from someone you have never met in person particularly if you have only recently met

Be suspicious of any claims that you are due money or goods which you have not ordered especially if you are being asked to make payment. Money requests on social media or dating apps may be fake. Fraudsters can forge documents or create a fake websites look like genuine organisations to scam people on search engines or social media. Scammers sometimes pose as tradespeople to offer high salary and remote jobs, be aware of unexpected job offers via e-mail, SMS or social media. Social media, dating and messaging apps may contain false information or advertise to request money. Even known shopping and social media platforms may contain ads from scammers. Be vary of ads.

You will need to enter the payee's (recipient's name) as it appears on their bank account. If you don't know this, we recommend that you ask the payee to obtain the correct information.

First, you should complete the identity verification process. After we verify you, we will register your new device ID and you will be able to access your Param UK account on your new device.

If you suspect you have been a victim of fraud or scam, inform us immediately by sending an email to [email protected] You need to send the email from your email account which is registered with us.
Report it to Action Fraud phone number: 0300 123 2040,
email to: [email protected], Text: 7726.
If the crime is being committed right now or if you are in danger, call 999

During the registration process, we need to check your identity to make sure you are who you say you are and that we are opening an account for the right person. We do this through our secure partner, Hooyu.

Hooyu is a third-party platform that many organisations rely on for verification services, and Hooyu helps businesses verify people using identity document authentication, facial biometrics, and digital footprint.

Using TLS-encrypted connections, Hooyu keeps your data secure. All documents are erased as soon as the process is completed. We�ll share your information with Hooyu and in return they will give us information on identity verification.