How to avoid getting involved in money laundering

You're short of cash and you see an advert to make quick money. All you have to do in return is pass on thousands of pounds to a complete stranger through you bank account. What would you do?

Remember the old saying if something looks too good to be true, it probably is. Emails or adverts promising you easy money in exchange for sending funds to other countries, or acting as a ‘money transfer agent’, are scams.  Set up by fraudsters, they try to trick you into moving their stolen money illegally, otherwise known as money laundering.

 

Stranger danger

The senders often target job seekers under some sort of disguise, such as official 'UK representatives' or 'agents' working for an overseas company.

 

Look and feel

Fraudsters are very good at appearing authentic. They will quite often copy genuine branding from company websites and emails. The written content of the email or advert is often written in poor English, including lots of grammatical errors and spelling mistakes.

Be careful though. Just because the spelling is OK doesn't mean you shouldn't remain suspicious.


 

Requests to keep quiet

Fraudsters like to keep a very low profile. You will nearly always be asked not to inform the bank or police of why you are making payments.

  • It may seem like easy money, but the stakes are high and the consequences financially devastating.
  • By allowing your bank account(s) to be used and transfer illegal funds, you are breaking the law, even if you don’t realise it.
  • When caught your bank account(s) will be suspended. Any illegal funds will be recovered from the account(s), including any money sent overseas and your account(s) will be closed. This is a criminal offence and will be reported to the police.
  • Once tagged as a fraudster, it will be difficult for you to open any other bank accounts or get credit in the future.
  • Never reply to suspicious emails with your personal or financial details.
  • Do not respond to overseas companies or contacts: they might not be who they say they are.
  • If it's a UK financial company, check the contact details carefully. Make sure their address, phone number, email address and website are genuine. You can check their validity through the FSA Register. Companies House also operates a free Web Check Service.

Report money laundering

If you think you are a victim to money laundering or any other type of online fraud, please call us as soon as possible:

0845 3000 116

(or +44 20 7649 9437 from overseas)

If you have a hearing or speech impairment, please call:

TEXTPHONE 0845 300 2280

(or +44 1733 347 515 from overseas)

If a specific bank is mentioned in the advert or email you should contact their published helpdesk number. You can also report the scam by emailing reports@banksafeonline.org.uk.

Lines are open 7am-10pm Mon-Fri, 8am-6pm Sat-Sun. Calls may be monitored and recorded.

Our online and mobile banking guarantee

We guarantee to refund your money in the unlikely event you experience fraud with our Internet Banking service - as long as you've been careful, for example, by taking reasonable steps to keep your security information safe. We protect you with safeguards that meet Industry Standards.

Important Legal Information

Lloyds TSB Bank plc and Lloyds TSB Scotland plc are authorised and regulated by the Financial Services Authority except for lending where we are licensed by The Office of Fair Trading. FSA authorisation can be checked on the FSA’s Register at: www.fsa.gov.uk/register. Lloyds TSB Bank plc and Lloyds TSB Scotland plc are members of the Financial Services Compensation Scheme and the Financial Ombudsman Service. We subscribe to the Lending Code; copies of the Code can be obtained from www.lendingstandardsboard.org.uk.

Lloyds TSB Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds TSB Scotland plc. Registered office: Henry Duncan House, 120 George Street, Edinburgh EH2 4LH. Registered in Scotland No. SC95237.

Personalisation. We will always greet you personally using your Title and Surname. We will never use ‘Dear User’ or ‘Dear Valued Customer’. Where you hold an existing account with us, we will quote the last four digits of your account number, such as your current account, savings account or credit card. If you don’t yet have an account with us but we have your postal address details, we may use part of your postcode. Internet Banking-related emails may also include your Internet Banking User ID.

Links. All links within our emails will go to a page on www.lloydstsb.com, or to trusted Government regulatory websites (e.g. Financial Ombudsman, Financial Services Authority, etc). Research emails may take you to a partner research company website but you will not be asked for any Internet Banking log in details. In fraudulent emails, website addresses may appear genuine on first sight, but if you hover your mouse over the link without clicking, it may reveal a different web address. On our genuine emails the link address always starts with email.lloydstsb.com or www.lloydstsb.com. We will never link direct through to our Internet Banking log in page or to a page that asks for your security or personal details.