TSB has sounded the alarm on a disturbing new wave of financial scams specifically designed to prey on households struggling with the ongoing cost of living crisis. The bank's fraud prevention team has identified sophisticated cons where criminals impersonate government officials to steal vulnerable customers' hard-earned savings.
How the Heartless Scam Operates
Fraudsters are contacting potential victims through text messages, claiming to be from government departments offering financial support. These malicious messages typically include links to convincing fake websites that harvest personal and banking details.
The most common tactics include:
- Fake cost of living support payments
- Bogus energy bill rebate offers
- Fraudulent council tax reduction schemes
- Pretended financial hardship grants
TSB's Urgent Safety Advice
Paul Davis, TSB's Director of Fraud Prevention, emphasised the importance of vigilance: "Scammers are ruthlessly exploiting the financial pressure many households are facing. We're urging all customers to be extremely cautious about unexpected messages offering financial support."
Protect Yourself from These Scams
- Never click on links in unsolicited text messages
- Verify any payment offers directly through official government websites
- Remember that genuine support schemes won't ask for banking details via text
- Contact your bank immediately if you suspect fraudulent activity
- Use official apps or websites to access your banking services
The Growing Threat to Consumers
This warning comes as financial institutions report a significant increase in cost of living related fraud attempts. With many families facing genuine financial strain, criminals are capitalising on the desperation for additional support.
TSB recommends: Always take a moment to pause and verify before responding to any unexpected financial offers. When in doubt, contact your bank through official channels to confirm the legitimacy of any communication.
