Fraud Alert

A warning has been issued to any charity using ‘single user authentication’ for its electronic banking, following the experience of one organisation:

In October a series of scam phone calls “from the audit section of the bank” caught the Secretary on the hop, aiming to convince him that his personal account was at risk from fraudulent activity by people within the bank’s fraud section.  So plausible were the fraudsters that he was convinced, and once convinced he became concerned that other accounts he had on line access to might also be at risk.  Within 24 hours none of the accounts operated online by this person had any money left in them, and attempts to recover the funds and a police investigation are ongoing.

A timely reminder that dual authorisation for electronic banking is a significant impediment and deterrent to fraudsters.


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