At Blue Motor Finance, we take fraud prevention seriously and are dedicated to assisting our customers in safeguarding their financial wellbeing. By staying informed and adopting proactive measures, you can reduce the risk of falling victim to fraudulent activities in the motor finance industry. We are committed to ensuring that our customers are equipped with the knowledge and resources to protect themselves against fraudulent activities. Below, we outline common fraud schemes targeting motor finance customers and provide tips on how to avoid falling victim to these scams.
Identity Theft
Fraudsters may attempt to steal your personal information, such as your name, address and financial details, to impersonate you and apply for motor finance in your name.
Payment Interception
Criminals may intercept communication between you and your financial institution, diverting payments to their accounts instead of the intended recipient.
Phishing Scams
Fraudsters may send deceptive emails or texts posing as legitimate financial institutions, requesting sensitive information such as account details or login credentials. Examples of such communications may be:
Bought a car and it has a finance marker with Blue Motor Finance?
Please contact us on 020 3005 9330 and we can advise further.
Sold your car when you have finance with Blue?
If you are a customer of ours and have sold your car, you must settle your agreement in full. Please contact us on 020 3005 9330 to discuss settlement options.
Stay Vigilant
Be cautious of unsolicited communications requesting personal or financial information. Legitimate financial institutions will never ask you to provide sensitive information via email or text. Look out for mistakes in spelling or grammar and do not click any links provided.
Verify Identity
Before providing any personal information or making financial transactions, verify the legitimacy of the individual or organization you are dealing with. Check for official contact details and contact us to confirm we sent the email or text you have received.
If you are suspicious after receiving an unexpected phone call from someone claiming to be from Blue Motor Finance, do not disclose any information and call us back on 020 3005 9330.
Secure Your Information
Safeguard your personal and financial information by using strong, unique passwords for online accounts. You can do this by adding capital letters, numbers and symbols to your passwords.
Regularly check your bank statements and credit reports for any unusual activity i.e transactions you do not recognise or accounts that have been opened in your name.
Double-Check Documentation:
When purchasing a vehicle, carefully review all documentation, including the VIN, vehicle registration and finance agreements, to ensure they are legitimate and match the vehicle's details.
Report Suspicious Activity
If you suspect fraudulent activity or have fallen victim to a scam, report it immediately to Action Fraud, using www.actionfraud.police.uk/contact-us or 0300 123 2040 (please note this number will be charged at your normal network rate) and the relevant financial institution, to prevent further losses and protect others from falling victim to the same scheme.
