Scammers are set to use the cost of living crisis to lure in potential victims, according to the head of the UK’s specialist police unit for fraud. DCI Gary Robinson said fraudsters could prey on Brits’ strained finances to coax them into giving up personal details.

With millions of Brits in a vulnerable financial position, it’s more important than ever to protect your hard earned cash. That’s why the experts at money.co.uk have put together a guide with all the need-to-know information, from keeping your bank details secure to safeguarding against scammers.

James Andrews, Senior Personal Finance Editor at money.co.uk, said: “Fraud is one of the biggest threats to your financial security, and with a record £101m worth of card and payment crime blocked last year, the issue isn’t going away anytime soon.

“And scammers are utterly ruthless – two years ago they used lockdown rules to trick worried Brits into parting with their cash and that means to them the current cost of living crisis is just another chance to turn people’s real concerns into an opportunity for theft.

“With cash-strapped Brits are looking for any possible way to help them save, scammers will be keen to offer false hope in return for your actual cash. That’s why, no matter how much strain you’re under, you need to ensure that you have taken steps to protect yourself before parting with your personal details or transferring money.

“Remember above all else, no legitimate company will ever call you and ask for your details. If they know enough to phone you in the first place, they will have them already. If you have any concerns, take their name, hang up, and call back on a number you have found for yourself – ideally on a separate line.

Here are three top tips:

The first thing to do is ensure all your accounts are secured with a strong password. Use a mix of letters, numbers and symbols, and have unique passwords for different accounts. If you use the same password for multiple accounts and your security gets compromised on one, you could end up with several breaches – and a potential disaster.

Do not save your passwords down on your phone or computer, as this will leave you especially vulnerable. Password managers are a great way to securely log your details. Most browsers and mobile devices offer inbuilt password managers, but there’s also a range of secure third party password managers available.

Make sure you have an up-to-date anti-virus and firewall for your laptop or computer, to detect fraudulent websites and emails before they cause you harm. If you have the money, investing in more technical software such as anti-spyware is also recommended, as this will block or remove spy programmes designed to steal your personal data.

“When it comes to anti-virus and firewall services, even the best systems can be fooled, so it’s important to learn how to spot fraudulent sites with your own two eyes. Look out for sites with poor grammar/spelling mistakes, incorrect URLs and missing or incomplete contact details – all are key indicators that a site is not trustworthy.

“In the past, a simple way of vetting a website was to look for the padlock symbol in the URL bar. However, the more sophisticated scammers have found ways to forge the symbol, so it’s important to carry out other checks before you decide whether a company is trustworthy.

“Other quick and easy ways to protect yourself from fraudsters and scammers include updating your privacy settings and software, backing up your data, turning off your bluetooth when it’s not in use and using a phone locating app like Find My iPhone.

“Similarly, making purchases with a credit card offers additional financial protection. If there’s a an issue with your purchase and you can’t get a refund, you can claim the full cost of your order back from your credit card company under Section 75 – if the total value is between £100 and £30,000.

“If you think you’ve fallen victim to a fraud scam, speed is of the essence. Contact your bank either directly, or via the new ‘159’ fraud hotline as soon as possible. Once your bank has been informed, they can increase the security on your account temporarily to prevent further losses.

“Also make sure to tell your friends and family, so that they can be on the lookout for any unusual emails or social media activity from your accounts, change all your passwords and update your security software and scan for viruses.

“For more advice on how to protect yourself against fraud visit: https://www.money.co.uk/guides/how-to-keep-your-data-safe.”