Fraud and scam

Understanding common types of scam

• Bank, Government impersonation scam
• Investment and crypto-currency scams
• Romance scam
• Job search scams

Three rules to prevent fraud

Help us fighting fraud, by reporting any suspicious communications

'You have missed your credit card payment due date. Please make the payment immediately to the following account to maintain your credit score.'

'This is OO court. As you are recently involved in an anti-money laundering case, we are now enforcing debt judgement on your bank account. Please transfer all of your deposit temporarily to this secured account opened for you.'

'Center for Disease Control and Prevention kindly reminds you: Given COVID-19 pandemic, we are now providing NT30K to NT50K financial subsidies to those with confirmed COVID-19. Please provide your bank account number for further payment processes.'
 

Bank and government administration impersonation is a common type of scam, where a fraudster impersonates someone from the bank in order to trick customers from providing credentials. Through phone call, SMS, social media methods, fraudsters can trick customers into making payments to them.

Do remember:

• HSBC will never phone you or email you asking sensitive personal information (such as your bank account or password)
• HSBC will never phone you and ask you to wire money to the payment account that you do not use
• The court will only notify individuals to make an appearance to court in writing, and not in other contact methods such as phone call, SMS, social media
• Please use the official websites of banks or government agencies when conducting payment or applying for government subsidy. Do not wire money or provide sensitive data by listening to the unknown individual on the phone

'Hi, I am OOO analyst’s investment assistant, join our LINE group to get three hot stocks with promising high-returns.'

'Recommending you a very useful crypto-currency exchange, register now and get $1000 USD in return!'
 

One of the most common trick con artists use is pose as brokers or investment advisers, where they make promises in giving high returns in a short period. Once customers start pouring their money into the 'fake' investment opportunities or crypto-currencies, they end up emptying their pockets rather than getting rich quickly and easily. Common methods may be,

• Fraudsters impersonating bank employees or consultants and promote products or request customers to wire money
• Send SMS promoting hot stocks or invite customers to join wealth management group chats via social media or dating apps, and lie that opening a designated bank account can open up their chances of buying “false” investment products

Prior to making any investments, make sure to conduct your own research, understand how the investment works, and the potential returns and risks.

Please remember:

• HSBC does not use our name to promote or ask customers to wire money on other websites or social media apps
• HSBC does not provide any account opening services via mobile app. Please use our official website for digital account opening and download to use our HSBC Taiwan mobile app to avoid internet or social media scams
• Crypto-currency is not a financial product officially approved by the Financial Supervisory Commission R.O.C (Taiwan). It is unregulated, highly speculative, and do not fall under the investor protection. HSBC Taiwan also does not offer any crypto-currency transaction products and services. Fraudsters may set up spoof websites and fake companies that have similar (or the same) names as genuine investment organisations to steal your data and finances

'I'm a little short on cash right now. Do you think you can help me out by wiring some money to tide me over? Even a few thousand dollars will help.'

'I have a large inheritance but I can’t access the money now. If you could lend me some money, I could access the inheritance and we could spend it together.'

'Darling, I would love to marry you but I don’t have any enough money to travel to Taiwan.'
 

Romance Scam begins with a fast-moving, online relationship, where somebody you have never met in person pretends to have feelings for you and then tricks you into sending gifts or money. Look out for those that start with small requests but will ask for more as well as emotional life stories. Always look out for red flags and do not easily provide personal information and transfer funds to strangers.

'Make money quick and easy! We're hiring people to assist in making money transfers. No experience or education required. All you have to do is send us a copy of your identity card and proof of income to apply. Limited openings, better call us now!'

'This is an easy job. We just need to borrow your bank account for the money transfers. How it works is we'll deposit some money to your account, and once you've wired the money to our account overseas, you'll earn a commission. Easy, right? All we need is a copy of your identity card, proof of your income and some cash upfront to make sure you won't run away once you've received our money for the transfers. It's just for our precaution.'
 

Slow down and think – have you ever wondered why your 'new boss' needs to borrow your bank account for transfers? Why does the company need you to give them detailed copies of your payslip, proof of address and identity card at such an initial stage of a job opportunity? And why do you have to pay them before you start work? The truth is: you thought you found the perfect job, but it was nothing more than an elaborate scam. Giving out your personal information already amplifies your chance of losing money. Fraudsters only need your online banking credentials, a recent headshot, one-time-passwords (OTPs), your date of birth and identity number to complete a transaction or make a transfer in your name. In fact, all that's needed to get a loan from a bank is a copy of your identity card, payslip and proof of your home address. A scammer can easily apply to borrow money and leave you responsible for their debt.

Even if you're digitally savvy, you shouldn't underestimate the damage fake online job offers could cause. If the recruitment advertisement does not properly and clearly disclose company details or only left social media accounts for contact, you should be extremely cautious. Look for the firm’s background information, its scale of operation and its address and avoid revealing sensitive details or information.

Whether it is on social media, by e-mail or on the phone, scammers will try their best to steal your personal information and money, riding on your psychological weaknesses to obtain your personal data and your trust. Don’t rely on others, learn how to protect yourself.