Fraud and Financial Scams

Fraud can happen to anyone, at any time. You might get an unexpected phone call, email, or text that sounds or looks real but isn’t. The person it’s from tries to trick you in to giving them your money or personal details.

Fraudsters are always finding new ways to trick people which are harder to spot. Even if it doesn’t directly affect your mortgage, it can damage your credit score, money, and mental health. We’re here for you if you need help. Just get in touch to let us know.

What are the main types of fraud?

Here’s what to look out for:

  • Purchase scams – victims are convinced to purchase goods or services that may not exist or be as described
  • Investment fraud – victims are persuaded to invest money with the promises of significant returns in a short period of time. The investment doesn’t exist, and losses are usually large
  • Identity theft – fraudsters steal personal details to open accounts, borrow money or take over existing accounts. They can also use these details to commit crimes, which may harm their finances and ability to borrow money in the future
  • Romance scams – fraudsters build fake online relationships to gain trust and manipulate victims into sending money. They often use emotional stories, like medical emergencies or travel costs, to make their requests seem genuine and urgent
  • AI (artificial intelligence) and deepfake scams – fraudsters are using AI to create fake videos, audio, or images. These are used to impersonate someone you trust to convince you to send money for fake emergencies or investments.

How can you help if I’ve been affected by fraud?

Many people go through this, so you’re not alone. Just contact us as soon as you can. The sooner you get in touch, the easier it is for us to support you. This won’t affect your credit score.

You can:

We won’t only talk about your mortgage we can help you figure out what to do next:

  1. We’ll guide you through how to report your situation to Action Fraud, the national reporting centre for fraud and cybercrime. They’ll let you know if your case can be investigated, and whether it’s linked to other incidents. You can use the Action Fraud website or call 0300 123 2040
  2. We’ll also let you know how to add a Credit Industry Fraud Avoidance System (CIFAS) protective marker to your personal details. You can request this if you think your personal details are at risk. When you apply for credit or services, companies using CIFAS will do extra identity checks to make sure it’s really you
  3. You can also add a password to your credit report using a Notice of Correction. This means lenders will need to ask for your password before any loans can be taken in your name.

 

What do you offer to help prevent fraud?

  • Text Checker Service

    You can check whether a text message is from us by following these steps:

    1. Copy the text from the message you’ve been sent
    2. Paste the text into a new message. Add Check at the start
    3. Send it to 50365
  • Report a suspicious email

    Send any emails you get that look like they’re from us but look suspicious to: 365security@boi.com

  • Calling 159

    We’ve signed up to 159. This anti-fraud hotline will securely connect you to your bank. Simply phone ‘159’ if you suspect you’ve been targeted by fraudsters.

  • Register or log in to your hub

    We’ve made the mortgage hub for our customers more secure. You’ll now be asked to upload a form of identity and a selfie to set up your hub. You’ll be asked to do this from September 2025 if you’ve already registered.

  • More information

    Visit our Security and Fraud page to learn more about how we protect you and what you can do to protect yourself.

* Visit our accessibility support page to call using a British Sign Language (BSL) interpreter. To call using text Relay, dial 18001 then the number you want to call using a textphone or the Relay UK app. All calls are recorded for training and monitoring purposes. Lines are open 9am – 5pm, Monday to Friday. We’re closed on Bank Holidays. 03 calls cost no more than calls to geographic numbers (01 or 02). Calls from landlines and mobiles are included in free call packages.

Investment fraud

One of our customers was the target of an investment scam. After her partner died, she was tricked into investing her inheritance, as well as taking out loans of over £100,000. She then had to sell her home.

She came to us in crisis – emotionally and financially overwhelmed.

How we helped

We acted quickly to help her take back control. We:

  • Escalated her case to our Financial Assistance, Fraud, and Customer Support teams
  • Removed the Early Repayment Charge so she could her sell her home without any further financial loss
  • Gave advice on fraud recovery and support services
  • Offered ongoing support to help her take the next steps

 

Relationship fraud

We contacted a customer when she fell behind with her mortgage payments. She told us she’d sent money to her boyfriend who she’d never met and told her he was in prison overseas.

She’d already sent him thousands of pounds, trusting he’d support her financially when he was released.

How we helped

  • Raised her case with our support team
  • Alerted the authorities using The Banking Protocol
  • Asked her bank to stop international payments
  • Kept in touch with her regularly
  • Connected her with support services.

Her local council also helped manage her mortgage account. She’s now doing much better and no longer sends money to the scammer.