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Keep your money safe from fraudsters

We’ve seen a spike in the number of scams in the UK where fraudsters trick you into sending them money by pretending to be someone you trust. Fraudsters are professionals, and can make their calls and emails seem legitimate.

We've put together a list of the scams we're seeing and how to protect yourself from them.

If you’re not 100% sure about a payment, stop, think and ask a friend or family member for advice. Bank transfers aren’t protected in the same way as card payments, so once you’ve made a payment it’s almost impossible to recover the money.

What to do if you've been a victim of fraud

If you've been tricked by a fraudster into sending them money, chat to us or give us a call on 0800 802 1281, or +44 20 3872 0620 if you're abroad.

Always report fraud to Action Fraud.

Pretending to be Monzo

Sometimes you might receive an email, phone call or text message that looks like it’s come from Monzo, but it’s a scam. We want to make sure all our customers know what we'll do if we ever need to contact you. And, most importantly, the information we'll never ask you to provide.

Pretending to be HMRC

Fraudsters could contact you pretending to be from HMRC. They might threaten you with legal action if you don’t pay fast, or they could send you a link offering money as a 'goodwill payment’.

Pretending to be the police, or a company you trust

Fraudsters could call, email or text you pretending to be the police, your electricity company, your landlord... They might pressure you into paying them to 'avoid legal action'.

Investment scams

Fraudsters will try to convince you to pay for a fake investment with the promise of a high return. Remember: Legitimate investments don’t happen over social media, and will never guarantee profits. Check if a company’s registered with the FCA before investing.

Coronavirus related scams

Like a lot of banks, we’re also seeing more coronavirus scams, like fake texts from HMRC offering money as a 'goodwill payment', or from the government offering ‘tax relief’. These are scams, so always check official sites before clicking on any links!

Phishing scams

We've also seen an increase in phishing scams, where fraudsters send you a text message or email that looks legitimate, and ask you to click on a link and fill in some information (like passwords, account numbers etc). They then use this info to scam you.

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How to make sure it's not fraud

Double check: Is the person you're paying really who they say they are? If you received an unexpected call from your bank, HMRC or another organisation, hang up the phone, Google their official number and call them back. If you received an email asking to transfer money from a friend, your landlord or someone else, try contacting them by a different method. Fraudsters can spoof phone numbers and make their emails look legitimate.

Take your time: An organisation you trust will never pressure you into making a payment. If you're unsure, speak to a friend or family member, or give us a call.

If it seems too good to be true, it probably is! If you're being offered something very cheaply over social media, it's probably a scam. Buy from a trusted merchant where you can check verified reviews.

Pay by card instead of bank transfer if you can. Card payments are better protected, and once you send a bank transfer to a fraudster it's almost impossible to get your money back.

take five B&W
  • Take 5 offers more advice about scams in the UK.
  • Action Fraud is UK’s national reporting centre for fraud and cybercrime. You should report fraud here.
  • Which? has a service that sends scam alerts directly to your inbox.