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Fraud Prevention

We all like to believe it will never happen to us, but frauds and scams are on the increase, and unfortunately, anyone can fall victim.  Alpha Bank makes every effort to shield clients from fraud, however there are some sensible precautions you can take to protect yourself and your business.

The key is awareness.  Set out below are some of the main frauds and scams and the steps to take to avoid them.

Identity Theft
Criminals need the financial system to launder proceeds of illegal activity. To do this, they can try to open accounts in your name or even take over your account. They will try to obtain important personal information such as your date of birth, address, full name or even your mother’s maiden name.  Keep this information safe by:

  • Checking your bank statements and reporting anything unusual as soon possible
  • Securely destroying bank statements and similar documents as soon as you have finished with them.
  • Thinking carefully about information and data you share with anyone else. Understand why they need the information and what steps they take to keep it secure.
  • Ensuring your social media profiles are private.

Email scams (or “phishing”)
Have you received an unexpected email which appears to come from a trusted organisation, such as your bank, the tax authority, or a frequently used retailer?  This could be a “phishing” email.  Warning signs are:

  • Poor grammar or spelling mistakes.
  • Requests for security information, passwords, PINs or account numbers.
  • Requests to re-verify your details via a web link or attachment to the email.
  • Threats to close your account if you fail to respond.
  • Claim that you are owed a refund or other amounts.

If you receive an email with these features

  • Do not reply.
  • Do not click on any links or open attachments in the email.
  • Delete the email and empty your recycle bin on your pc or device.
  • If you think the email is genuine, check with the organisation by visiting their website or use a telephone number you know to be genuine.

Authorised Push Payment (APP)
Criminals will try to trick you into sending them money.  This is an Authorised Push Payment (APP) scam.

This usually involves:

  • Sending funds for goods or services that do not exist.
  • Being deceived into sending funds to a “safe” account.
  • Be vigilant for scam emails claiming that bank details have changed at the last minute, e.g. for a major purchase.

Please contact your relationship manager, if you think you may be the victim of an APP scam involving your Alpha Bank account.

Payment Diversion
Fraudsters frequently monitor email traffic to identify when payments are due.  They then send you their email message, purporting to be from the genuine firm.

They may tell you  the bank account details for your payment have changed and include new details of where to send the payment.

  • Check that the email address is one that you recognise to be from the genuine firm.
  • Contact the company you are making the payment to, using a phone number you know to be genuine, before making the payment.

If you think that you may be the victim of a fraud or scam involving your Alpha Bank account, please contact your relationship manager or email us on For more information regarding security and protecting yourself please click here.