Lloyds Banking Group issues warning on “phishing”
by Gill Montia
Lloyds Banking Group is warning customers that the formation of a new group from the merger of Lloyds TSB and HBOS could increase the risk of fraud for some customers.
The bank is concerned that the merger means criminals are lining up to launch phishing attacks and extract account details from customers adjusting to the change.
Account holders may receive emails purportedly from the group, asking for confirmation of account or security details via a link to fake log-in pages.
For the time being Lloyds TSB and HBOS are retaining their brand identities so any communication using the Lloyds Banking Group name is spurious.
In addition, the group has reiterated that it never contacts customers by email asking them to confirm their account details, passwords or security settings.
Banks have also been warned to be mindful of increased fraud from customers and employees during the recession.
In its 2009 Financial Risk Outlook report, the Financial Services Authority warns that bank staff and account holders may embark on criminal activity to “maintain their existing lifestyles, replace lost funds or meet increasingly challenging revenue and sales targets”.
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