Scammers have been taking advantage of new rules introduced to protect consumers making online payments. 

From 7 October 2024 new rules mean that fraud victims who have lost money via Authorised Push Payments (APP) should be able to recover their money due to a new mandatory reimbursement scheme. Under the new rules, all payment service providers must reimburse consumers who lose money to fraud when using Faster Payments (real-time transfers between UK bank accounts). 

Which? reported that people have received convincing phishing emails, claiming to be from NatWest, during September, referencing the 'new UK Consumer Protection rules against fraud'. The email  invited customers to 'verify' their mobile numbers, ensuring they would 'get notified of any transactions carried out via your account right away' and enabling them to 'report any suspicious payment alerts.' 

A closer look reveals that the email was sent from a bogus email address, which has nothing to do with NatWest, though can be easily missed unless you click to check the sender address. Anyone who clicked on the web link provided would have been taken to a convincing copycat NatWest website. 

This copycat website has all the correct branding and asks for a customer number or card number, then the PIN and password, home address, mobile number and account details, giving the criminals everything they need to commit identity fraud and potentially hack into accounts.

How to spot phishing emails: 

You can report email scams by forwarding the email to report@phishing.gov.uk.