Debtors targeted by phone scams, expert says

Those already experiencing debt management difficulties have been advised to be wary of telephone scams that are being particularly targeted towards those who owe money.

External affairs director of Equifax Neil Munroe noted that vulnerable people are convinced to part with account details and upfront payments by criminals who offer lump sums in return.

“Anyone who provides their details over the phone risks their accounts being emptied by fraudsters, leaving them in even more debt,” he said, adding that legitimate businesses would not ask for personal information when on the telephone.

It was suggested that debtors remember that genuine notifications of transactions are provided in writing and not via email or the phone and that upfront fees to release funds will not be required by trustworthy firms.

Experia’s recommendations come after a recent survey by the British Retail Consortium revealed that more people are worried about debt, with 15 per cent saying that this is their greatest concern at the moment.

This is a rise of five percentage points year-on-year.

By Sarah Adie