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The British bank, the worst performer in handling fraud complaints, has issued a cryptocurrency fraud alert.
NatWest was named the worst UK bank for accurately identifying legitimate fraud complaints in 2020. According to reports, NatWest’s mobile banking app warned users after receiving record fraud reports from January 2021 to March 2021. .
The warning specifically points to a scam that involves hackers installing remote access software on the victim’s computer or hardware. This kind of trick usually sees criminals gaining the trust of victims online, either pretending to be experienced traders or celebrities. according to report. Then, the victim will be persuaded to install a cryptocurrency wallet and urged to invest. After sending a certain amount of cryptocurrency to the wallet, the criminals emptied it through the malware they installed.
NatWest fraud prevention director Jason Costain said that the increasing interest in cryptocurrencies creates opportunities for criminals to take advantage of, and urges customers to beware of fake websites and celebrity endorsements.
“We prevented millions of pounds from being sent to crypto criminals who took advantage of the high level of interest in the currency. However, consumers should always be vigilant, especially warnings about the use of fake websites and fake celebrity endorsements.”
Ironically, the UK financial inspector’s annual data as of May 2020 shows that NatWest is the worst bank to accurately handle fraud complaints from its customers.
according to dataIn this case, nearly 70% of NatWest’s rulings proved to be wrong between 2019 and 2020, as evidenced by the fact that national regulators continue to overturn this decision. A year ago, this number was as high as 87%.
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