Farmers are being warned of the increased threat of fraud in the run up to Christmas as criminals deliberately target the agricultural sector. With the bank accounts of farmers likely to be full after receiving funds from the EU at this time of year, they are a very attractive target for phone scammers who can net hundreds thousands of pounds from successful cons.
From 1 December, farmers should be on a special lookout, as many will receive significant funds on that day through the Single Payment Scheme (SPS) as part of the EU’s Common Agricultural Policy.
The fraudsters are aware of this fixture and because a lot of information as to who receives the SPS is made publically available – including the amount paid – criminals are able to target specific individuals, which greatly improves their chances of success. It is not exclusively farmers who are a target though – many business and organisations which use farm land, such as B&Bs, local
authorities and manufacturers also receive the SPS.
Financial Fraud Action UK’s (FFA UK) intelligence unit – the Financial Fraud Bureau – has warned that over the last two years, farmers from right across the country have become victims of deception crimes at this time of year, with large sums being lost, ranging from tens of thousands to hundreds of thousands of pounds. The scams used by fraudsters involve telephoning their victim and posing as their bank, the police or another trusted organisation.
Typically, the criminals will claim that fraud has been detected on the farmer’s business or personal account and that immediate action is required to remedy the situation. The victim is then tricked into handing over key financial information or transferring funds into a so called ‘safe account’ which is controlled by the criminal. Once the money has been stolen, it is often very difficult to recover, because the funds are moved out of the criminal’s bank account so quickly.In the past victims have been targeted across the country with areas such as Yorkshire, Lanarkshire and the Scottish Borders being a particular target.
Commenting, Katy Worobec, Director of FFA UK said: “Farmers need to be on high alert over the next few weeks as they are much more likely to be a target of phone fraudsters. Many will receive significant funds through the EU’s Single Payment Scheme, and the fact that this is a well-known annual payment means that criminals have focused on how to launch attacks at the list of recipients.
“Be immediately suspicious if you get a call and you are asked to give out personal or financial information, or asked to transfer money into other accounts. If in doubt, hang up the phone, leave it five minutes so that the call has definitely terminated and then ring back the organisation the caller claims to be from, but on a number that you know and trust.”
