Impersonation scams and how to spot them

Reading time 7 minutes

At a glance:

An impersonation scam is when a criminal pretends to be a trusted person or organisation to gain money or personal details.

If you receive an unexpected message, email or phone call asking you to login to an account or to move money, wait before acting.

Stop contact immediately if you have any suspicions about whether the person speaking to you is genuine.

How does an impersonation scam work

An impersonation scam starts when a criminal pretends to be someone people are likely to trust. This could be a:

Building society or bank

Police officer

Government department (like the HMRC)

Financial regulator like the FCA

Friend or family member (sometimes called “Hi mum” scams).

The contact may arrive through a telephone call, text message, email, social media account or online advert.

Criminals can copy logos, names and writing styles to make communications appear genuine. They may use AI to do this.

What will an impersonation scam try to do?

The criminal will try to get their target to act quickly. They may claim that:

They are investigating fraud and need your help to protect your money.

Your money is at risk and must be moved into a “safe account” or withdrawn and sent through the post.

You may face penalties or legal action if you don’t act.

An investment that is guaranteed to make money is available (cryptocurrency is common in this type of scam).

The criminal may also claim that you need to keep this secret and not discuss it with anyone else.

Impersonation using AI

Artificial intelligence can imitate a person’s voice or create false images and videos to make a scam more convincing.

AI can also be used to create communications that look similar to the real thing. Always take a moment and think about what you’re being asked to do. If you have any worries at all, end contact.

Scams that impersonate YBS

If you ever receive an email, text, phone call or any other form of communication claiming to be from YBS, know that we will never ask a customer to:

Move their money from an account to a different one.

Ignore scam or security warnings.

Request any cash sent through the post.

Ask for your full password.

Send a link for you to login.

If you receive any contact that asks for this, don’t reply and report them to us.

Report someone impersonating YBS

Examples of impersonation scams

Bank or building society impersonation

It’s common for impersonation scams to involve a bank or building society.

“Safe” account

A caller claims that the money in your account is at risk due to fraud or a scam. They encourage you to move the money to a “safe” account to avoid anything happening to it. They may also ask you to withdraw and post the cash to a safe location.

The “safe” account is actually controlled by the criminals who will take the money. Any address you are asked to send money to will also be set up by the criminals.

New device scam

Similar to the fake payment receipt, an email may falsely claim to be from your bank or building society stating that a new device (phone, tablet, desktop computer) now has access to your account. This is done in an attempt to gain login details.

False payment receipt

A scam may pretend to be a receipt of a payment or deposit that you have not made. The scam will try to get the target to login with their real details on a fake website created to steal them.

Police or government impersonation

A criminal claims to represent the police, HM Revenue and Customs or another public body. The message may refer to unpaid tax, legal action or arrest unless a payment is made immediately. The threat is designed to create fear and stop the person checking the claim.

Friend, family or celebrity impersonation

Also called a “hi mum” scam, this is where a criminal pretends to be a family member or friend in financial trouble to trick someone into sending money.

Cryptocurrency scam

A false advert or social media profile uses the name or image of a well-known person to promote an investment or competition.

This scam could encourage you to invest (this is especially true for cryptocurrency scams) or to submit details into a fraudulent website.

Be sure to do your own research to see whether this celebrity is actually associated with the company. Often they will have no idea that the scam is using their image.

Colleague or supplier scam

A criminal pretends to be a colleague or supplier, requesting immediate payment or claiming the usual bank details have changed. They may try to use the identity of a real person to do this.

How to spot impersonation scams

Our financial crime lead, Hannah Bingle, explains the top signs to look out for when dealing with an impersonation scam:

“Although impersonation scams can use different stories, they all rely on the same principle: convincing you that you're speaking to someone with authority and that you need to act quickly.

Criminals may claim to be from your bank, the police, the FCA or another trusted organisation. They often use convincing stories and may even start with small requests that seem harmless, building trust before asking you to take action involving your money.

A common tactic is to claim your account is at risk and that your money needs to be moved to a “safe account” or withdrawn as cash.

Banks and building societies are responsible for protecting money held in customer accounts and won't ask you to move it elsewhere for safekeeping. If someone is telling you to transfer money to protect it from fraud, that's a strong sign that something isn't right.

If you're contacted unexpectedly, don't feel pressured to continue the conversation. End the call and contact the organisation directly using details from a trusted source. Even if you've received an email that appears to support the caller's story, check it carefully and don't assume it's genuine.”