Security and fraud
Learn more about what we do (and what you can do) to protect your business online and out and about.
Protecting your business from fraud
Common fraud threats
Being aware of common threats, knowing how they work and what to look out for can help to protect your business against falling victim to fraud.
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Changes to shopping online
We're changing how you make payments with your card online. You'll need to check and, if required, update the mobile number we hold for you.
Update your mobile number
Report fraud
If you think that you may have revealed your security details, fallen victim to fraud, or notice any unusual activity on your account, please contact us immediately
Contact usOur fraud guarantee
Our Fraud Guarantee works to protect you and your money when you bank with us, whether that's online, over the phone or in branch.
If you happen to fall victim to fraudulent activity, we guarantee to refund your loss as long as you've not acted fraudulently, and you've taken reasonable steps to keep your details safe.
How we protect your business
However you choose to bank with us, you can be sure you are protected. Our fraud prevention methods include:
If you speak to us about paying someone new we will check that you're confident about who you are paying. We'll do this by guiding you through tailored information about the type of payment you're making.
How you can protect your business
We are proud to have signed up to the Contingent Reimbursement Model, a voluntary code that aims to offer our customers better protection from Authorised Push Payment (APP) scams.
An APP scam happens when you are deceived into transferring funds (through Faster Payment or CHAPS) to someone, or you transfer funds for what you believe is a genuine purpose, and this turns out to be fraudulent.
We do everything we can to keep your money safe and secure. However, there are common threats that you can be aware of and some simple steps you can take to help protect yourself from fraud.
If you are asked to make a payment, it is your responsibility to make sure the request is genuine before you authorise it. Please be aware of seemingly random requests to move money, or requests that are from people or companies you haven't dealt with before. If this happens, it is often a sign that you are being tricked.
Each situation will be assessed on an individual basis. However, we are not likely to refund you if:
- You have not adhered to the security requirements set out in the terms and conditions of your account
- You've not exercised all due care and diligence to check that the person or company you are dealing with is genuine
- You fail to keep your card and PIN safe
- You fail to keep your online and telephone banking passwords safe. It's important that you never tell anyone your verification code.
- You fail to let us know as soon as possible of any security breach or potential security problem, e.g. the loss of your card
- You have provided us with incorrect payments instructions
- You have not exercised all due care and diligence when allowing an authorised Third Party Provider (TPP) access to your account
- You have acted fraudulently.
If you believe you are a victim of fraud, contact us immediately.
Remember that a genuine bank or organisation will never contact you randomly to ask for your PIN, full password or to move money to another account as part of an investigation.
Don't give out personal or financial details unless it is to use a service that you have signed up to, and you're sure that the request for your information is directly related.
Ensure you stay safe online and keep your information secure by following our recommendations.
Install and run anti-virus software
If you don’t already have it, then we strongly recommend that you install anti-virus software on any devices you use when banking. Running anti-virus software can help prevent infection from the many viruses that are on the internet.
Not setting up or running a regular scan with your anti-virus software means viruses may go undetected and there is an increased risk of financial fraud.
Use a firewall
A firewall on your computer acts like a barrier. It helps to block malicious software from gathering your private information. It can also help stop potential intruders.
You can get a number of different firewalls, some come with your anti-virus software, some are built into your modem or router and most Microsoft Windows computers will have a firewall as standard.
Keep your devices up to date
Online threats often change and new ones will emerge. By regularly updating your computer or mobile device operating systems when prompted, you can help keep your devices safe.
Microsoft, Apple, Google and other developers regularly update their operating systems and software for desktop computers and mobile devices. Not only does this improve performance, it helps protect against any new bugs or security vulnerabilities discovered.
Help to protect your devices by installing software and internet browser updates as soon as they become available.
Download our Business Fraud Awareness Guide
The Co-operative Bank Business Fraud Awareness Guide is a quick reference guide that you can save offline or print.
Received a phone call, text or email asking for your business or financial information? If so, what do you do? Before you act, stop. Take a moment to assess the situation.
The information below should help you work out whether that request is legitimate.
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Be absolutely certain who you're speaking to
A genuine bank or organisation will never contact you out of the blue to ask for your PIN, full password or to move money to another account. Only give out your personal or financial details to use a service that you have given your consent to, that you trust and that you are expecting to be contacted by. Before you share anything with anyone, stop. Then pause to consider what you're being asked for and question why they need it. Unless you're 100% sure who you're talking to, don't disclose any personal or financial details.
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Don't assume an email, text or phone call is authentic
Even if someone seems to know your basic details, it doesn’t mean they’re genuine. In an attempt to gain your trust, fraudsters may claim you’ve been a victim of fraud. They often do this to get you talking, then try and persuade you into giving them your security details.
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Don’t be rushed, or pressured, into making a decision
No genuine bank or trusted organisation will, under any circumstances, force you to make a financial transaction on the spot. Neither would they ask you to transfer money into another account for reasons relating to fraud. If you’re asked to do this, then stop and consider what they are asking you.
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Listen to your instincts
Does a situation feel wrong or strange? If so, it’s usually right to question it. Fraudsters will try to manipulate you: they’ll try and lull you into a false sense of security when out and about, or rely on your defences being down when you’re at home. They’ll try to appear trustworthy, but they may not be what they appear.
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Stay in control
Be confident. It’s always okay to stop a conversation. You can always refuse unusual requests for personal or financial information.
Take Five is a national campaign that offers straightforward and impartial advice to help everyone protect themselves from preventable financial fraud. This includes email deception and phone-based scams as well as online fraud – particularly where criminals impersonate trusted organisations.
Led by UK Finance, and backed by Her Majesty's Government, it is being delivered with and through a range of partners in the UK payments industry, financial services firms, law enforcement agencies, telecommunication providers, commercial, public and third sector. Visit: takefive-stopfraud.org.uk for more information about Take Five and which partners are involved.
Important information about our call charges
If you’re calling from the UK, calls to 0800 and 0808 numbers are free from landlines and mobiles; calls to 03 numbers cost the same as calls to numbers starting with 01 and 02; calls to 0845 and 0870 numbers cost 3p per minute, plus your phone company’s access charge; calls to 0844 and 0843 numbers cost 7p per minute, plus your phone company’s access charge. Charges for calls made outside of the UK will be determined by your local provider.
Calls may be monitored or recorded for security and training purposes.
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If you'd like more help & information, you can:
