Scams are becoming more sophisticated, targeting people in ways that can be surprisingly convincing. Here are some common types to watch out for, and simple steps you can take to protect yourself.
1. Money mule scams
You may be asked to let someone use your bank account to transfer money, often with the promise of a quick reward. This is illegal and can land you in serious trouble. Always say no and report any suspicious requests.
2. Impersonation scams
Scammers might pretend to be from the police, HMRC, your bank, or even M for Money. They’ll claim there’s an issue with your account and try to trick you into transferring money to a “safe account.” Remember: no trusted organisation will ever ask you to do this.
3. Cost of living scams
Fraudsters often take advantage of people feeling the financial pinch. They may pose as the government, your council, or an energy provider, offering fake rebates or refunds. Be extra cautious with texts, calls, or emails requesting your bank details.
4. Investment scams
Offers promising guaranteed, high returns—sometimes with fake celebrity endorsements—are often scams. Be wary of unexpected pitches for crypto, bonds, or other investments, especially if they pressure you to act immediately.
Top tips to keep your money safe
- M for Money—and any legitimate organisation—will never ask you to move money to a “safe account.”
- We will never ask for your PIN, SMS code, password, or full card details.
- If someone claiming to be from M for Money asks for personal info, hang up and contact us directly.
- Never give anyone remote access to your phone, computer, or online banking.
- Be cautious of offers that sound too good to be true—they usually are.
- Don’t let anyone rush you—fraudsters often try to pressure you into making quick decisions.
- Avoid clicking links in messages from unknown sources.
- Just because someone knows your name or basic info doesn’t mean they’re genuine.
- If you notice anything suspicious on your M for Money account, contact us immediately.
Stay alert and protect your money. Scammers are clever, but a few simple precautions can keep you safe.