At Currency Solutions, we vowed to protect your funds and personal information. While we employ advanced security measures, it is equally crucial that you remain alert to protect yourself from potential fraud. Remember, your proactive role is key.
Stay Secure. Stay Informed. Stay Ahead.
Common Fraud Types
Phishing emails or Smishing: proclaiming to be from trusted sources like banks, including Currency Solutions, attempting to access or steal your login credentials or confidential information. Be wary of spoofed email addresses (addresses that are intended to look like they are from a known contact but have a slightly amended name or domain e.g. sales@curencysolution.com, info@currency-solution.com, privacy@currencysolution.net, ).
Forgery of Sender Information: Email spoofing involves forging the sender's email address and name to make it seem as if the email is coming from a trusted or legitimate source. This includes manipulating the "From" field in the email header.
Vishing (Voice Phishing): Scam callers claim to be from a bank, Currency Solutions, or other financial institution. They manipulate clients to share private information or authorise fraudulent transactions over the phone. Scammers can manipulate caller ID to appear as legitimate entities.
Fake customer support: Scammers posing as customer service representatives to gain access to sensitive information or initiate unauthorised transactions. Scammers can manipulate caller ID to appear as legitimate entities.
Social engineering: Unlike technical hacking, social engineering attempts to manipulate you into revealing sensitive information by exploiting human psychology through emotional vulnerabilities such as trust, fear, and urgency.
Investment Fraud: Scammers offer investment schemes that deliver unrealistically high returns at little or zero risk, using pressure tactics to rush decisions --they can seem perfectly legitimate, appearing knowledgeable with websites, testimonials and marketing material. These types of schemes are also known as "Get-rich-quick" Ponzi or pyramid schemes. Remember, if it sounds too good to be true then it likely isn't genuine, legitimate, or true.
Account Takeover: Fraudsters use stolen personal information to access your account, change passwords or make unauthorised transactions.
Romance Scams: A scammer pretends to be romantically interested in someone to gain their trust over time and ultimately exploit them for financial gain or personal information, using common online dating websites, social media, or messaging apps.
Purchase scams: Criminals create fake websites and documents that appear genuine in order to trick you into paying advance fees for goods or services for your business that are never received.
Impersonation scams: Scammers often imitate legitimate organisations, such as tax authorities, the police, or Currency Solutions, provoking you to act immediately or transact.
Job Scams: Scammers pose as employers, offering fake job opportunities that require upfront payments or loans, often using messaging apps or impersonating legitimate companies.
Email Interception/Redirection: Fraudsters hack email accounts or servers, monitor communications, and alter payment details in invoices, redirecting funds to their own accounts.
How Currency Solutions Protects You:
We implement several robust measures to protect you and your funds against potential fraud:
1. Advanced Encryption: Our advanced encryption ensures the security of your personal data and financial transactions during transmission and storage.
2. Two-Factor Authentication (2FA): Enabling two-factor authentication provides an additional layer of security to your account, making it more difficult for fraudsters to access it.
3. Transaction Monitoring: Our real-time fraud detection systems constantly monitor transactions for unusual activity, allowing us to recognise and resolve potential threats immediately.
4. Fraud Prevention Tool: Currency Solutions leverages a top-tier, global fraud prevention solution designed to detect and stop fraudulent activity before it occurs. This proactive approach ensures enhanced security and peace of mind for all our clients.
Staying Vigilant: Protecting Yourself from Fraud
While we take extensive precautions, your vigilance is key to staying safe from fraud. Fraudsters are always looking for more ways to deceive individuals, steal personal information, and commit financial crimes. Follow these essential tips to protect yourself:
Protect Personal Information:
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Never share crucial personal information, such as passwords or account details, over the phone, email, or messaging apps.
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Safeguard your personal information, such as your date of birth, address and bank account details. Share them only when necessary.
Be Wary of Unsolicited Contact:
- Watch out for unsolicited communications! Reply prudently while answering calls that request personal information or financial transactions. Don't click any links included in the email as it might be a scam.
- Avoid acting under pressure or urgency; fraudsters often create a sense of urgency to manipulate your decision-making.
Verify the Identity of Requesters:
- Always confirm the identity of the person or organisation you're dealing with, especially if they request money or sensitive information.
- Use trusted contact information obtained independently (e.g. phone number from a company's official website) rather than the one provided in unsolicited messages. Scammers can manipulate caller ID to appear as legitimate entities. If in doubt, hang up and call back using a trusted number.
Use Reputable Websites:
- When making online purchases or sharing payment information, use well-known and reputable websites. Look for the padlock symbol and "https://" in the URL to ensure secure connections.
- Be aware of companies with contact details on their website, which are only mobile phone numbers or a P.O. box address.
Verify Financial Transactions:
- Before sending money, verify the recipient's bank details (e.g., sort code and account number) with the intended payee. A simple typo can result in sending money to the wrong account.
Monitor Financial Transactions:
- Monitor your account regularly for any unusual activity and report discrepancies immediately.
Monitor Your Credit Score:
- Obtain and review your credit reports regularly to look for any unauthorised accounts or unusual activity.
There are multiple free tools that will allow you to monitor your credit score online, for example - Experian, Clear Score,Capital One and Money Supermarket. Find the right solution that works for you.
(Please note: Currency Solutions is not affiliated with any of these providers)
Be Sceptical of Unknown Emails and Links:
- Be wary of spoofed email addresses (addresses that are intended to look like they are from a known contact but have a slightly amended name or domain).
Strong password and Two-Factor Authentication (2FA):
- Use unique and complex passwords for your accounts. Avoid reusing the same password for different services.
- Wherever possible enable two-factor authentication for any logins used for financial product providers, email providers or other companies that you supply personal information to.
Secure Your Devices:
- Always keep your devices and software up to date to safeguard against security vulnerabilities.
Protect Your Social Media Profiles:
- Review your privacy settings on social media to limit the amount of personal information visible to the public. Fraudsters often use social media to gather information for scams.
Shred Documents:
- Dispose of financial documents, bills, and statements by shredding them to prevent dumpster divers from accessing your personal information.
Report Suspicious Activity:
- If you suspect you have encountered a fraud attempt, report it to us, your bank, the relevant authorities, and Action Fraud (in the UK) as soon as possible.
Stay Informed:
- Educate yourself about the different types of fraud and common scam tactics. Awareness is the first line of defence.
There are great online resources provided by Action Fraud :-
https://www.actionfraud.police.uk/
What to expect from us?
At Currency Solutions, we're determined to ensure your security and transparency. Here's what you can always count on:
- We will never ask for your full PIN or password, whether by phone or email.
- Our emails will always address you by name, not with generic greetings like "Dear Customer."
- We don't offer investment advice or pressure you to make transactions—your financial decisions are yours to make in your own time.
- We would never change our banking details without prior sufficient notice.
- We would never change our domain “www.currencysolutions.com"
Your peace of mind matters to us, and we're here to support you.
What To Do If You Suspect Fraud
If you believe you've been targeted by a scam or notice any suspicious activity in your account, it's essential to act quickly:
- Contact Us Immediately: Call +44 (0)20 7740 0000 or email our customer service team at service@currencysolutions.com
- Don't Access Compromised Accounts: If you suspect your account has been hacked, do not log in until you have spoken with our team.
- Report Suspicious Emails or Calls: Forward any suspicious communication to service@currencysolutions.com for investigation.
Additional Resources
For more advice and support on fraud prevention and cybersecurity, check out these trusted sources:
- Action Fraud: The UK's national reporting centre for fraud and cybercrime. Call 0300 123 2040 or visit www.actionfraud.police.uk.
- Take Five: A national campaign offering straightforward advice to help prevent email, phone-based, and online fraud. You can visit at https://www.takefive-stopfraud.org.uk/.
- Forward suspicious emails to the National Cyber Security Centre at report@phishing.gov.uk
- Independent Victim Support advice, https://www.victimsupport.org.uk/
