Types of fraud


Learn more about the most common types of fraud and what you can do to help protect yourself.



Types of fraud

Here are some top tips to protect yourself from becoming a victim of fraud:

  1. Be careful of the information you share on social media like pet names, address details and online quizzes. These answers are often used for additional security questions.
  2. Regularly check your statements and credit file carefully and report anything suspicious as soon as possible.
  3. Shred any paperwork that contains financial details or personal information. This could be your name, date of birth or address.
  4. Make sure your contact details are up to date including phone numbers, email address and address. We may contact you to confirm a transaction.
  5. Never share your one-time passcode or PIN with anyone. Vanquis will never ask for these. If you are asked for these, it's probably a scam.
  6. If you move house, ask Royal Mail to redirect your post to your new address for at least a year.
  7. Take the time to stop and think. If an offer sounds too good to be true it probably is.
  8. Login to websites directly through your browser rather than clicking a link.
  9. Keep your card with you and in a safe place.
  10. Don’t be embarrassed to report a scam. By reporting it, you could help protect others from becoming a victim.


Identity theft

This is when a criminal obtains a victim’s personal information, this could be from social media, postal interception or fake websites used to gather information.


Identity fraud

This is when your personal details have been stolen are used to commit fraud. This could include:

  • opening a bank account or credit card in your name
  • ordering goods in your name
  • taking over your existing accounts

Account takeover

This is where a criminal gains access to an account that does not belong to them and changes information so they can make unauthorised purchases on an account.


Stolen card

This is where the criminal takes the card from the victim and uses it for unauthorised transactions.


Intercept fraud

This is when a new card is sent out (this could be due to expiry or being reported as lost/stolen) and someone else obtains your card before it gets to you. This could be due to moving house and having incorrect address details. Ensure your contact details are up to date with us.


Money Mule

A money mule is a person who is used by criminals to move illegal funds between accounts, whether in person or electronically, in order to launder the money and evade authorities.


How to protect yourself?

  • A legitimate company will never ask you to use your own bank account to transfer their money. Don’t accept any job offers that ask you to do this
  • Be especially wary of job offers from people or companies overseas as it will be harder for you to find out if they really are legitimate
  • Never give your financial details to someone you don’t know and trust