Phone fraud: the woman conned out of her £12,000 savings

We've all heard stories of people losing huge sums to phone or online fraudsters. But we rarely get to hear the conmen in action. But Radio 4 Money Box has been given recordings by Nargess Sadjady of how she was tricked out of her £12,000 savings by scammers pretending to be from Santander Bank. They used sophisticated software to generate a phone number that appeared to be the same as the number on the back of her bankcard. Fearful that her savings were at risk, she was persuaded to move her money to an account controlled by the conmen. Hear how the fraudsters operate in trying to trick us. Joe Lynam reports. And Ed Wallace, director of MWR Infosecurity explains why the banks find it difficult to stop such crimes.

Listen to the scam conversations in real time broadcast on 5th September and available  in MP3 format By acting quickly the money was recovered but local residents may not be so lucky

BBC Money Box Radio 4

http://www.bbc.co.uk/programmes/b068lsp7