Your guide to fraud prevention from our experts

Hampden Bank’s Fraud Specialists, Yvonne Scott, Senior Financial Crime Manager and Graeme Ritchie, Chief Risk Officer, give us advice on how to bank safely.

For most of us, banking has become effortless and almost invisible. A few taps on our phone and money is transferred or payments are approved while we’re queuing for our coffee – about to be paid with another click and tap.

Online, phone, and on-the-go mobile banking has transformed how we manage our money, but according to the fraud prevention experts at Hampden Bank, it has also created the perfect conditions for a new generation of scams.

The big surprise about fraud in 2026? It rarely involves sophisticated hacking. It almost always begins with gaining a client’s trust.

‘As systems are usually very secure, they are hard to break into’, says Yvonne, ‘what we are seeing is criminals getting incredibly good at gaining someone’s trust and manipulating them to provide their access to the banking systems.’

And increasingly, these criminals are succeeding.

The scams that catch people out

Two kinds of fraud are becoming increasingly common. The first is authorised push payment (APP) fraud – scams where clients are persuaded to move money themselves. The second is account takeover fraud, where criminals gather enough information, usually from the client, to gain access to their banking or online accounts.

The methods vary, but the psychological tools are usually the same: urgency, emotion and pressure.

A common scam is where a client believes they are booking a holiday through the well-known website Booking.com. In this case, the payment process is normal, nothing raises alarm bells. Only later is there an realisation that it is a fake site and payment has been made for a holiday that sadly does not exist.

‘It’s easy to think that you would never be a victim of fraud,’ Yvonne adds. ‘But the scammers are incredibly convincing. They know how people behave online and they know how to make everything appear genuine.’

Beware of glossy, well-pitched investment scams

It’s a growing concern that clients are being convinced to part with large sums of money for fraudulent investments. The target is usually affluent clients, who are comfortable moving money around, investing and making financial decisions independently.

Fake investment firms, cloned funds or fund managers, convincing websites and brochures created with the help of AI are all making this kind of fraud much more difficult to spot. A professional-looking website, polished branding and glossy brochures are no longer any kind of reassurance.

‘People assume that fraudsters are careless and will create an obvious, second-rate product,’ says Graeme. ‘But these websites and brochures look completely legitimate. AI has made it much easier to copy or create fake communications that feel completely convincing.’

Why banks slow things down

Many clients have experienced it: their bank calling to question an unusually large payment or asking additional security questions before money is transferred. At a time when most services are competing to speed everything up and remove transactional ‘friction’, banking is increasingly seeking to balance the need for pace with ‘healthy friction’.

And deliberately so.

‘There’s an assumption that every digital transaction should be instant and seamless,’ says Graeme, ‘But when it comes to unusual payments, or transfers of large amounts of money, we believe there should be healthy friction in the journey. We’re asking the questions, making the phone call, running the checks.’

That time to pause – the extra question, the request to confirm details, the temporary hold on a payment – can make the difference, stop a scam and save thousands.

Most scams succeed because victims are encouraged to act quickly, often while they are being made to feel stressed or emotional. Slowing the process down gives people time to think more clearly.

There’s a ‘Take Five’ campaign from UK Finance – urging people to ‘stop, think and take five’ to stop fraud. Putting the phone down and taking a moment can help you to see clearly.

Practise ‘defensive banking’

One phrase increasingly used by fraud experts is ‘defensive banking’. We all need to approach financial decisions and payments with more caution and scepticism.

In practice, this means:

• Verify requests for payments independently
• Double-check the details
• Never rely on contact or payment information that is provided in an email or text – especially if it’s unexpected.

‘If you’re unsure, suspicious, have any questions at all, contact your bank using a number you already know and trust,’ Yvonne urges. ‘Don’t use the number in the message you’ve just received. Everyone should have their bank contact details stored on their phone.’

Personal relationships can also become a form of protection. Private and relationship banking models, where clients know their banker personally, can help to reduce uncertainty when something feels unusual. A quick phone call or even a video chat with a contact you know and trust can provide reassurance.

This matters even more as technologies such as voice cloning become more convincing. Fraudsters can now buy a £20 device that will imitate voices with alarming accuracy, prompting some organisations to rethink their expensive voice-recognition security systems.

‘We’re entering a period where hearing a familiar voice is no longer enough,’ says Graeme. ‘That is a real shift.’

Yvonne wonders if some elements of traditional banking will have to return in a modern guise. ‘Meeting your banker in person is a trusted way of making a secure transaction. We’ll have to think about how to replicate that,’ says Yvonne.

The future of high-tech banking security is likely to involve more verification and checks for high-risk transactions. Although in the 21^st century, this might evolve into new forms such as digital finger printing and laser eye-scanning.

The everyday, overlooked fraud

Not every fraud case involves dramatic scams or large transfers. Subscription payment scams are surprisingly common. The fraud team regularly sees cases where clients are unknowingly paying for services they no longer use, never used, or in some instances, for someone else’s subscription.

‘These smaller payments of £2.99 or so a month can go unnoticed because they don’t feel significant,’ Yvonne explains. ‘But they add up, and sometimes one small, unusual payment from your account is the first sign that someone has your details.’

Regularly reviewing your direct debits, standing orders and subscriptions is one of the simplest ways to spot unusual activity early.

Small habits make a big difference

According to the fraud team, staying safe often comes down to a series of small, consistent habits.

• Never share one-time passcodes or security codes, even if someone claims to be calling from your bank or police.
• Be cautious about saving your card details online.
• Avoid clicking links in unexpected messages, especially when you’re travelling or using unfamiliar Wi-Fi networks.

Most importantly: avoid making financial decisions under pressure.

‘If someone is creating urgency, that’s a warning sign,’ Graeme says. ‘Fraudsters want people to act emotionally, not logically.’

At Hampden Bank, we will never ask clients to urgently move money into a so-called ‘safe account’. One of the most common scam tactics still in circulation.

Fraud is now, unfortunately, part of everyday life. It can affect anyone, regardless of age or experience. But a little caution, a willingness to pause, and knowing who to trust can make a real difference.

Or, as Graeme puts it: “Be cautious about making any urgent payment requests and assume you may be targeted one day. Not because you’re more vulnerable to being targeted, but because we all are.”

If you’d like to learn more:

Hampden Bank’s guide: https://www.hampdenbank.com/banking/banking-safely

Take Five: https://www.takefive-stopfraud.org.uk/