Types of Fraud

There are various ways in which a fraudster may try to deceive you into giving them your personal and security details. They use these details to get access to your financial information with the bank and also set up payments out of your account into theirs.

Some of the more common frauds that are prevalent are:

Phishing Emails:
Phishing involves an email message being sent out to as many Internet email addresses that the fraudster can obtain, claiming to come from a legitimate organisation such as a bank, online payment service, online retailer or similar. To avoid getting phished you should never respond to email messages that request personal or financial information and never click on a link in such an email.

HSBC never asks you to disclose your personal or security details by email. If you receive such an email, do not respond to it. Forward the same to info@hsbc.co.in and delete the email immediately.

The Security Device, one of a technological innovations from HSBC, takes online security to higher levels. To log on to your account on Internet Banking, you need to enter your existing username and password as usual, followed by the unique security code generated by the Security Device. This 2-step authentication process provides you with an enhanced level of security as access to your Internet Banking.

Please read the section on “Your role in Online Security” to learn about how to protect yourself from such email frauds.

Trojan:
Trojans are usually emails that may contain files, pages or attachments that you are asked to open. Once opened, they can secretly install a program on your computer that can monitor your online activity, down to what keys you're pushing on what page.

This can mean the next time you enter your credit card details on your favourite online shopping website, the fraudsters will be alerted.

Money mule / Additional income email scam:
A recent scam involves someone offering, via an email or website, to pay funds into your account on the understanding you then transfer them overseas. In return, you supposedly get a commission.

Many of these scams involve the proceeds of fraud and you should ignore the request. Any customer that participates will become involved in a police investigation and we could close any account involved in this scam. If it looks too good to be true, it probably is a con.

Advanced Fee Fraud ('419' scams):
This involves unsolicited letters and email messages offering the recipient a generous reward for helping to move a staggeringly large balance of funds, usually in US Dollars.

The fraudsters are after banking details. The transactions typically require the recipient of the letter or email message to pay something like a fee / tax / bribe to complete the deal - this is the Advance Fee. Such fees will be lost.

If you suspect someone has access to your Internet Banking details, logon to Internet Banking to change your Password and immediately call us on our Phone Banking Numbers. HSBC's Phone Banking numbers are accessible 24 hours a day, 7 days a week*.