Security and fraud

Whilst risks from identity theft, email, postal and online banking fraud have been increasing, it is important to know that there are many steps you can take to help minimise the risk of fraud. We have put together a list of some of the most common types to help you stay safe. Please also remember that if you are a victim of fraud or attempted fraud on your Britannia International account you should contact us immediately on +44 (0) 1624 681100.

 Phishing

This is when fraudsters send you unsolicited/un-requested emails, usually claiming to be from your bank asking you to click on a link in order to update your personal details. These links often take you to a fake or spoof website where the fraudsters collect your information in order to try and carry out fraud.

 Britannia International Tip: You should be aware that Britannia International will never request you to confirm confidential information via email. It is also important to look out for unusual website addresses in the browser address line. For Britannia International the web address should always be http://www.britanniainternational.com/

If you are using our online banking site always check for the padlock icon at the bottom of the web pages. This indicates that the page uses the SSL protocol, a data transfer security standard that encrypts data and authenticates the server and the integrity of the message. This symbol indicates that all information, most notably banking details, is secured. To be sure these pages are protected by SSL, you can also check the site's URL, which must begin https:// and in our case is https://sc1britanniainternational.com the 's' indicates that this security system is in force. You can also click the padlock in the browser bar to view the identity of the Web site owner and also check that it comes from a valid Certificate Authority. This digital certificate is a document that an organization provides from its Web site to confirm their identity, and to enable a secure connection.  You can also carry out these checks if you are suspicious of other sites that you visit, in order to ensure they are a legitimate site.

 Advance Fee Fraud/ Spanish Lottery

This is where you receive unsolicited letters, faxes or emails containing illegitimate or illegal proposals. These often take the form of faxes and emails promoting the services and products of oil companies, real estates, family inheritances and money lotteries. The communication normally offers promises or strong returns (often far too good to be true!). Most of these letters purportedly come from government officials and major banking/business corporations. On occasions they may also attempt to use natural disasters or political circumstances to give an authentic feel. Usually you will be requested to pay a fee up front - this could be in the form of an "advanced fee" or a "transfer fee" and they usually stress the urgency of the matter and the confidential nature of the transaction. Sometimes they make claims that other parties are employed in, or have strong ties with the government agencies or financial institutions and on occasions insist that you travel within South Africa or to one of its neighbouring countries to meet them. Almost all of these are forged and official looking documents are included. Blank letterheads, invoices and banking details are often requested.

Britannia International Tip: You should never reply to one of these requests. Please use common sense. If the offer sounds too good to be true, it probably is!

Boiler Room Scams

The term ‘Boiler Room’ operation" refers to the use of high-pressure sales tactics to sell stocks to clients who are cold called or called randomly, most likely after being picked out of a phone directory.

Boiler rooms are often set up in inexpensive office spaces, where armies of telemarketers make these cold calls. While the stock they sell may be real, the information these salespeople use to hype their product could be false or misleading because of their overwhelming desire to sell the stock and claim commissions. They'll often tout stocks that trade on exchanges that require little in terms of disclosure and regulation.

Besides the fact that these operations are based on deception and coercion, many of these salespeople and brokers are not even qualified to work in the securities industry. And they will go to great lengths to try to swindle you. Some of these "brokers" will claim to have offices in different countries to give the impression of importance and wealth, but in reality they have set up virtual offices with a mailing address and a call forwarding system.

Britannia International Tip: If someone calls you offering cheap share investments, do not engage the individual into conversation, just put the phone down and report the call to your local police.

 W–8BEN forms

The W–8BEN form is a legitimate US tax exemption form that is issued by fraudsters commonly by fax but sometimes via the post or email. In recent times fraudsters have taken to using fake W–8BEN forms to attempt to acquire personal details such as bank account numbers, mother's maiden name, passport details, passwords, date of birth, PIN numbers and other useful information to potential fraudsters.

These fake forms are usually sent to individuals purporting to come from financial institutions that claim they are reviewing client information and asking that the form be completed.

Britannia International Tip: Please remember that Britannia International will never ask you for your personal information or passwords in this manner. If you do receive one of these forms you should not reply to it.

If you believe you may have replied and provided this information please contact us immediately on +44 (0) 1624 681100.

 Identity Fraud

Identity fraud is when someone steals your personal information to use for illegal purposes. This can include stealing wallets and purses containing identity documents, credit and bank cards; stealing mail, including bank and credit card statements, rummaging through dustbins or finding information in homes or offices. It can also include the interception of personal information via Phising emails, shoulder surfing, fake forms and post interception. Once fraudsters have obtained this information they will attempt to make withdrawals on accounts, open accounts in your name, apply for loans and credit cards using your information.

Britannia International Tip: Ensure that you manage your personal information wisely and destroy information by shredding or burning. Check your statements and transaction advices to track activity on your accounts. Do not disclose personal information by email.

If you think a fraud has taken place please on your Britannia International account you should contact us immediately on +44 (0) 1624 681100.

In Summary

Britannia International takes fraud prevention very seriously and the security of your money is of paramount importance to us. Should you be the victim of a fraud attempt, we will do everything we can to support you in ensuring the risks of it happening again are reduced to a minimum.

We have strict fraud prevention measures in place, however fraudsters are now extremely organised and are employing ever more sophisticated fraud techniques. It is therefore extremely important that you are vigilant at all times. Never respond to an email, fax or unsolicited letter, which asks for personal information.

Britannia International Tip: Britannia International Limited would never ask you to mail or fax personal or security information to us. In addition we would not ask you to tell us your PIN, username or answers to your security questions by e-mail. If you have any doubts regarding documentation or suspect you might have been a victim of potential fraud, please contact us directly on +44 (0) 1624 681100.