Metro Bank is partnering with the charity Victim Support to provide an independent support service for its customers who have been a victim of fraud. Victim Support’s team of dedicated fraud case workers offer free, confidential and personalised support to help victims manage the impact of the fraud and help to ensure they feel more able to spot fraud in the future.
Any Metro Bank customer experiencing any type of fraud will have access to additional support from Victim Support as part of Metro Bank’s aftercare service.
Last year, Metro Bank reported a 50% increase in romance fraud, with current analysis showing that a third of those who are victims of romance fraud were classified as vulnerable customers. UK Finance reports that more than £4,0001 every day is stolen through romance fraud.
“Industry data1 shows that when it comes to romance fraud, victims pay out on average ten times before they begin to realise something is not quite right,” explains Metro Bank’s Head of Fraud & Investigations, Baz Thompson. “We are here to help and support our customers when they report their case and this will include both financial and aftercare support. However, we are aware some customers need more and that’s why we are partnering with Victim Support so they can offer additional and more ongoing support and help.”
Sara Brown, Head of National Contact Centre Services at Victim Support, said: “Relationship fraud is a devastating crime and it’s also remarkably common. Sadly, there is so much shame and stigma and many victims are too embarrassed to open up to their friends or family about what has happened, leaving them isolated and vulnerable. We’re pleased to be teaming up with Metro Bank to offer this much needed free, independent service so that victims don’t have to suffer in silence.”
What is romance fraud?
Romance fraud happens when someone is deceived into thinking they are in a genuine romantic relationship with someone who is actually a criminal.
These frauds often take place online, with the fraudster coercing the victim into sending money or holding or transferring funds to another account.
Romance fraudsters can use various methods to form a relationship this could be via an app, online or over the telephone. With the use of AI these profiles may even be known celebrities or people who appear to be incredibly genuine. Metro Bank has recently launched the Metro Bank Scam Checker powered by Ask Silver – a new quick scam detection service which offers customers rapid reassurance about potential fraudulent communications.
Fraudsters work hard to appear sincere, charming and funny to gain trust, finding out personal information about their victim and creating fake stories so it seems like they have a lot in common with their victim.
Once they believe they have gained the trust of their victim, they start inventing reasons for needing money – usually based around an emergency where they urgently need money to travel, or for medical treatment.
What to look out for:
- Someone declaring strong feelings for you after a few conversations.
- They suggest moving to a more private channel. If you’re worried, stay on the app.
- They ask for money, needing it for emergencies or to visit you.
- If their stories aren’t consistent with their profile.
- They claim their camera isn’t working or produce reasons not to speak or video call. Please note this has become harder to detect recently as some fraudsters are using AI to create fake video profiles.
- They ask you to take out a loan in your name. This means you are liable for the repayments.
- They ask you to lie to your bank. This is fraud and it is illegal.
How you can protect yourself:
- Never send anyone money you haven’t met or have only met a handful of times.
- Talk to friends or family about people you match with online.
- Stop and think if you are being pressured to act quickly. Take the time to try and check their details. You can perform a reverse image search online to find out if a picture has been taken from somewhere or someone else.
- If you think you might have been targeted by a romance fraudster, it’s ok to reach out to someone, you’re not alone. Often victims can feel embarrassed or ashamed about romance fraud but it’s so important that you tell you bank if you’ve lost money this way. They’re there to help.
- Look out for friends or family who become secretive about their online relationships or get defensive when you ask why they haven’t met in person, they could be at risk of becoming a victim of romance fraud.
- If you think you might have been a victim of fraud, contact your bank immediately. You can also report it to Action Fraud on 0300 123 2040 or via actionfraud.police.uk