The world’s largest building society has issued a warning to millions of customers
Nationwide Building Society (Image: Nathan Stirk, Getty Images)
Nationwide has issued a warning to its millions of members after people have money taken from their accounts. The world’s largest building society has added a new feature which can be used in the Nationwide banking app.
Nationwide has launched its Call Checker feature, which confirms to customers whether they’re genuinely speaking to Nationwide or being targeted by a fraudster. The service comes as Nationwide’s research reveals the average Brit receives eight scam calls a month, or two every single week.
Impersonation scams drain millions of pounds each year, with Nationwide’s customer data showing they account for 17% of all reported fraud cases. Criminals impersonating banks or building societies target people across all age groups, though Nationwide’s figures reveal those over 65 are disproportionately affected (accounting for 55% of victims).
Around one in six (16%) people aged 18-34 and nearly two in ten (19%) of those aged 50-65 have also fallen for the cons and had money taken from their accounts. Call Checker provides customers with reassurance that they’re speaking to a genuine Nationwide colleague.
It works alongside the existing Scam Checker service, which is used by 100,000 people and stops £300,000 monthly from falling into criminals’ hands. The new feature allows customers to immediately verify whether their call is genuine through Nationwide’s banking app.
Customers simply open the app, navigate to “More”, then “Call Checker”, and instantly see whether they’re on a call with Nationwide. The screen will display either “You’re on a call with Alex” or “You’re not on a call with us.”
Scammers are becoming increasingly bold in their attempts to impersonate banks, asking victims to share personal details (50%), share security codes (34%), transfer money (31%), and even instructing them to deceive their own bank or building society (15%). This allows them access to their victim’s bank account and by encouraging them to lie, often suggesting they claim they’re making a payment to a friend or relative, they can avoid detection and bypass the stringent checks associated with high-risk payments like investments.
Jim Winters, Director of Economic Crime at Nationwide, warned: “Scammers are becoming more sophisticated, and impersonation calls are one of the most common ways they trick people into handing over money. We are programmed to trust people and when someone uses clever tactics and well-practised scripts – often putting us under pressure or making us panic – it can be hard to know who to trust.
“Our Call Checker feature gives our customers peace of mind by confirming if a call is genuine, or not. It’s a simple and effective step that could prevent someone from becoming the next crime statistic.”
