Common scams

• How to spot a scam
• Investment scams
• Impersonation scams
• Passcode scams
• AI scams
• Unexpected deposit scams
• Advance pay scams
• Tech support scams
• Home rental scams
• Romance scams
• QR code scams
• Charity scams
• More information on scams
• Need to report a scam?

If you receive an unexpected call, text or email about money or bank accounts, it's likely to be a scam. Especially if the person on the other end creates a sense of panic, urgency or fear. 

Criminals can manipulate systems to show a recognizable name or number on your caller ID or in your inbox. They can create fake documents and websites or learn details about you from your social media accounts. They can even use technology to mimic the voices of people you know.

So even if a call or message seems legitimate, always pause and question it.

• Don't be afraid to stop communicating and call back on a phone number that you have found and verified yourself
• Never be panicked or pressured into sending money or sharing personal details, including one-time passcodes
• Check your bank statements regularly. Turning on transaction alerts in your mobile banking app can also help to bring any unauthorized activity to your attention
• Be cautious when opening attachments or accessing links

Let's look at some scams and how to spot them.

If you're offered an investment opportunity that seems too good to be true, it probably is.

In investment scams, fraudsters sell stocks, cryptocurrency, natural resources or business investment opportunities that turn out to be worthless, overpriced or non-existent. They may set up spoof websites and fake companies that look genuine, and may even use the names of real people. So even if something looks OK at first glance, always check carefully before parting with any money.

Here are some red flags that may signal an investment scam:

• An opportunity offered by someone you met online or on a dating app, probably brought up casually
• Huge returns offered on low-risk investments
• Requests to move the conversation to an untraceable channel, like WhatsApp, Telegram or WeChat 
• A lack of independent information about the company or opportunity
• Glowing testimonials or celebrity endorsements, which could be fake
• Pressure to invest quickly for the best returns
• Being told to keep it a secret or lie when asked questions
• An approach from someone whose only contact details are a mobile phone number

Remember, you can research U.S. investment advisors on FINRA's Broker Check site. Always contact the broker through a trusted number to verify you are working with the actual advisor.

Some fraudsters may ask you to generate a one-time-passcode (OTP) in your mobile banking app. Their goal is to take over your account or get authorization for transactions they're trying to complete.

When you receive an OTP in a text or email, always read the full message to confirm if the code should be read aloud or not.

We may ask you to read out a verbal OTP for security purposes. Only a criminal will contact you and ask you to share a digital OTP.

As artificial intelligence (AI) evolves, so do the tactics of cybercriminals. 

AI software can clone a person’s voice from just a few seconds of audio, while deepfake imagery can create a likeness so convincing it’s almost impossible to spot as a fake. This means it’s easier than ever for scammers to impersonate people or organizations you trust.

To protect yourself from AI scams:

• Be wary of calls or messages asking for money, even if it’s from someone you know. If you weren't expecting the message or call, contact them back on a trusted phone number 
• Avoid opening attachments that look like invoices or photos if they’re unexpected
• Don’t give out financial details over an online chat, or during any other unsolicited communications

In these scams, a criminal will pay a sum of money into your account. It might look like a welcome boost to your balance, but they'll soon take it back - and then some.

You'll usually see an unexpected deposit appear, before being contacted by someone asking you to return a portion of the money.

You might hear:

• "If you cash this check, you can keep some of the money for your trouble"
• "I need to temporarily use your bank account for an ACH or wire transfer"
• "I've accidentally sent money to the wrong person, please send it back ASAP!"
• "Here's some money to buy office supplies for your work from home job, you can return whatever's left to us"
• "I bought an item from you and I've overpaid, can you send back the difference."

A short time later, you will learn that the deposit to your account wasn’t valid, and your account has been debited.

Things to remember:

• A payment can still be reversed, even if you can see the money in your account
• If you receive a notable sum of money that you weren't expecting, tell your bank
• Don't spend the money or return it to the sender, even if they have a believable story - the funds may not belong to them

This scam involves a fraudster asking you to send them a relatively small sum of money, with the promise that it'll unlock a greater reward.

For example:

• Tax or processing fees on a big prize win or inheritance
• Upfront fees to claim a loan
• A job offer where you need to pay for background checks or other expenses

Always be wary of upfront payments, especially if:

• It's for something you weren't expecting - a relative you don't know, or a contest you didn't enter
• You're pressured to pay quickly
• They insist on an unusual payment method, like gift card, or cryptocurrency

This scam involves criminals taking over your computer in order to get hold of your personal or financial details.

You might notice your device freezing, showing unusual screens or displaying a message to contact support. You may even receive a call as this is happening.

In this situation, never:

• Call the phone number that's provided
• Click on buttons or links
• Let anyone control your computer remotely, that you don't know and trust
• Go on any personal or financial sites until the device has been serviced by a trusted computer repair agent

Always be cautious when booking vacation accommodation or looking for a home to rent. Websites or social media platforms listing villas and apartments can be home to fake ads posted by scammers.

You may arrive at your destination to find the property isn’t owned by the person who posted it, isn’t as advertised or doesn’t exist.

To avoid losing money to these scams:

• Make sure the property in the pictures is real: Look for signs of fake or doctored images - do a reverse image search or check the exterior of the property on Google Maps
• Make sure the host is acting in good faith: Check that the same property isn't listed multiple times at different price points. You may end up overpaying, or finding your reservation is double-booked
• Search the name of the property owner or rental company: Include the words “complaint,” “review,” or “scam.” See what other people say about their experiences.
• Protect your money and your accounts: If you book through a platform like Airbnb or Vrbo, never pay your host 'on the side' by bank transfer or by clicking on a link they send you

Don't be lured by properties or prices that seem too good to be true. And be on the lookout for any unusual requests for payment or account information.

Romance scams are among the most common types of fraud. In a dating world dominated by apps and meeting online, scammers can capitalize on remote relationships where you may never meet in person.

It's easy to be hooked in by these scams as they play on your emotions and abuse your trust, so it's important to be aware of the signs if you're making new connections.

Tricks they'll try:

• Moving the conversation to a non-traceable app such as WhatsApp, Telegram or Signal
• Asking you to pay for their travel to meet you
• Begging you to pay for an urgent expense, such as an operation for them or their relative
• Casually bringing up how they made money, and how you could do it too
• Asking to borrow money until they can access their inheritance 
• Claiming to be away travelling or working, or too busy to meet
• Using fake photos of themselves or their lifestyle
• Falling in love, and even proposing, extremely quickly

Never send money to someone you've only ever met online. And always question requests for large sums of money, even if it's from someone you think you trust.

A QR code is a small, square barcode that can be read by devices like your mobile phone. You may have seen them in bars and restaurants or on advertising posters.

Criminals are placing fake codes on top of real ones. The scanning of a fake code will lead you to a scam website and may download malicious software on to your device.

Most smartphone cameras will provide a preview of a QR code's link as you start to scan it. If the URL looks suspicious or isn't what you expected, don't follow the link. If in doubt, try going directly to the website you're looking for instead.

These scams occur more frequently after a national tragedy or natural disaster and involve criminals posing as charitable organizations. They will often play on your emotions in order to persuade you to donate money to their cause.

How to protect yourself:

• Always research the charity using information from trusted sources, especially charities you see discussed on social media
• Be cautious when you receive unsolicited communications from charities

If you've accidentally sent money to a scammer, or given a criminal access to your HSBC accounts, you should tell us right away.