Fraud Prevention

How Clear Junction Fights Fraud

Clear Junction is a B2B company providing payment infrastructure to other financial institutions and regulated companies including banks, payment services providers, remittance companies, money services and digital currency businesses.

While we don’t work directly with individual consumers, we work tirelessly behind the scenes to secure the payment environment for our clients and, by extension, their customers. We believe the best defence against fraud is knowledge. That’s why we work to educate both our clients and the wider community about how to spot scams.

To better defend our clients, their customers and the wider financial system from financial crime, we are making significant investments in technologies, processes and in our people. Our goal is to build a secure financial system where you can transact with confidence. Fighting fraud is at the heart of everything we do.

We follow 4 core principles to combat fraud and maintain a secure and compliant payment infrastructure.

Principle 1 – Prioritising Customer Security: We aim to provide an unattractive environment to fraudsters.

Principle 2 – Balanced Fraud Risk Management: With keeping in mind our clients operational demands and customer experience, we adopt a balanced approach to fraud risk management with the aim to minimise fraud losses.

Principle 3 – Investment in Technology and People: Continuous investment in technology and internal training to ensure we stay ahead of fraudsters, ensuring our clients’ assets are safeguarded and providing the clients with knowledge and tools to protect themselves.

Principle 4 – Customer Cooperation. We impose strict reporting and compliance responsibilities on our clients and provide around-the-clock support to assist our clients and their customers with any financial fraud queries.

Common Types of Scam

Fraudsters use a variety of tactics to steal your money. The FCA reports that Authorised Push Payment (APP) fraud and Investment Fraud are especially prevalent right now. Here are some of the most common scams:

APP (Authorised Push Payment) Fraud: In this scam, someone tricks you into sending money directly to their account posing as a genuine payee. It could have a myriad of forms, the most widespread of which are:

Impersonation Fraud: You get a call supposedly from your CEO, bank, the police, or a tech company like Microsoft. The scammer claims there’s a problem with your account and tells you to urgently transfer money to a “safe” account (which they control).

Protect yourself: Never rush. Hang up and call the company directly (using a number from their official website) to verify the situation.

Romance Scam: You meet someone on a dating site or social media. They quickly declare their love and then invent a sob story about needing money for medical bills or travel expenses.

Protect yourself: Be wary of online relationships that progress quickly. Look out for an emotional life story, they start with small requests but will ask for more. Don’t send money to someone you haven’t met in person.

Invoice Scam: You receive an invoice that looks just like one from a real supplier. But the bank details have been changed, so your payment goes straight to the fraudster.

Protect yourself: Scrutinise invoices carefully. Check if the sender’s email address matches the website address of the company it says it’s from – hover your cursor over the sender’s name to reveal the true address.

Advance Fee Scam and Others: You’re promised a huge lottery win, inheritance, or prize, but first you have to pay a fee. Once you pay, the scammer disappears.

Protect yourself: Be aware of special sale items at ‘too good to be true’ prices or lotteries you haven’t entered.

Investment Scam: You see ads for get-rich-quick crypto or forex schemes on social media. You might even be contacted by someone claiming to be a successful investor offering you tips.

Protect yourself: Be skeptical of offers that seem too good to be true – high returns for a low risk. Do thorough research before investing, and only use reputable exchanges.

FCA Warning List of unauthorised firms | FCA

ScamSmart – Avoid investment and pension scams | FCA

Money Mule: Fraudsters often try to recruit money mules by promising quick cash for simple tasks. They might advertise fake job openings or approach you directly online. Here’s how it works: The fraudster makes it seem like a legitimate opportunity to earn extra money. You receive funds into your account and are instructed to transfer them elsewhere or withdraw cash. The money you handled was stolen. You could face criminal charges and lose your own money.

Protect Yourself: Watch out for anyone asking to borrow your bank account, or offering easy money. If it looks too good to be true, it usually is. Don’t let criminals trick you into moving money illegally, you can become an accomplice to fraud and face criminal charges. 

Money Mules – National Crime Agency

Phishing: Phishing scams use fake emails, texts, or websites to trick you into giving up your personal information. For example, stealing passwords, credit card numbers, bank account details, and other confidential information. They might look like they come from your bank, a streaming service, or even your boss.

Protect Yourself: While links in emails or texts from family or friends may be fine, don’t click on any link (or open attachments) in unsolicited emails or in texts you weren’t expecting.

Remote Access / Hacked Account: In this scam, fraudsters convince you to give them remote access to your computer or phone. They might pretend to be tech support from a well-known company or claim your device has a virus.

Protect Yourself: Don’t let someone you don’t know have access to your computer, especially remotely over the phone (not face-to-face).

How Scammers May Trick You

Remember, fraudsters rely on your trust. Stay sceptical, do your research, and never make decisions based on pressure or fear. If something feels wrong, it probably is. Don’t ignore that gut feeling, even if you can’t quite pinpoint why you’re suspicious.

Behavior. Fraudsters aren’t just after your money – they’re playing mind games to trick you. Watch out for these common tactics:

  • False Friendliness, then Threats. They may start off charming, but if you don’t comply, they can quickly switch to aggression. Don’t be intimidated – it’s a sign they’re desperate.
  • Creating Urgency. They’ll insist you need to act NOW or lose your money, face arrest, etc. This is designed to make you panic and react without thinking carefully.
  • Faking Familiarity. Scammers research you. They might drop names of your friends, mention recent purchases, or reference your work to seem credible. Never assume someone is genuine just because they know a little about you.

Fake email addresses. Fraudsters often use email addresses that look almost – but not quite – like official ones. Always check the domain name carefully (the part after the “@”). Genuine communications from Clear Junction will always come from an address ending @clearjunction.com.

Below are the fake examples that fraudsters have already used:

Fake Documents. Fraudsters are experts at forgery. They can easily create documents with official-looking logos, fake invoices, bank statements, or even official government notices that look surprisingly real.

Scrutinize every document. Look for inconsistencies in the formatting, typos, or unusual contact information. Contact the real organization directly to verify. Use their official phone number or website, not contact information provided in the suspicious document.

Deepfakes. Deepfake artificial intelligence technology allows fraudsters to manipulate audio and video to impersonate anyone, even people you know and trust. Pay close attention if the voice sounds slightly off, if the video has strange glitches, or the person asks you for money or sensitive information.

If unsure, try to contact the real person directly through trusted channels (like in-person or their verified social media) to confirm if the message came from them.

Fake websites/applications. In the fraudulent application/website a person sees his investments and the growth of his income. The fraudster may even allow you to withdraw a small part of the income, but when it comes to withdrawing a large amount, the fraudster may demand tax or disappear altogether (access to the application is lost and the person does not know where his money is and whether his income, which was visible in applications)

Check the website’s URL carefully. Look for misspellings, unusual domain names (e.g., not ending in .com or .gov). Research the company online to see if there are complaints or warnings. Check FCA Warning List of unauthorised firms | FCA

Outsmart Fraudsters

Fraudsters are SMART. Be SMARTER.

S – Stay Alert. Question everything, even if the person seems to know some basic information about you. Fraudsters can gather personal details from many sources. Don’t be fooled by a friendly manners or official-sounding titles.

M – Monitor regularly. Check your bank and credit card statements closely for any suspicious activity. Set up transaction alerts if your bank offers them.

A –  Analyse and assess. Do your homework before making any investment or significant purchase. Research companies thoroughly, read reviews, and be wary of anything that seems too good to be true.

R – Remember to double-check. Verify information from multiple sources before making decisions. If you receive a suspicious video, audio message or unexpected link from someone, contact them directly through a verified method to confirm it’s genuine.

T – Think Critically. Always consider the possibility of a scam. Approach every unsolicited call, email, or text with a healthy dose of scepticism. Always verify the identity of businesses and individuals through their official channels, not just the contact information provided to you.

E – Educate yourself. Scammers constantly change their tactics. Learn about common fraud schemes and stay informed to protect yourself from future scams. Keep yourself updated on the latest technology and the methods used by fraudsters.

ScamSmart – Avoid investment and pension scams | FCA

InvestSmart | FCA

Take Five – To Stop Fraud | To Stop Fraud (takefive-stopfraud.org.uk)

Get Safe Online | The UK’s leading Online Safety Advice Resource

R – React and report. Remember, acting swiftly is crucial in minimising the impact of fraud. Always prioritise communication with your bank and law enforcement authorities.

What to do if You have been the Victim of Fraud

If you believe you became a victim of fraud or suspect any suspicious activity related to Clear Junction please report this immediately via the support form. Additionally, do the following:

Remember:

Act Quickly and Decisively. The sooner you act, the better your chances of minimizing losses and stopping the scammers.

Don’t feel embarrassed or ashamed. Fraudsters are skilled manipulators. Reporting what happened helps prevent others from becoming victims.

Gather Evidence. Keep records of all communications related to the fraud, including emails, text messages, and screenshots. This will help with investigations.

  • Immediately Contact Your Bank

 

Immediately contact your bank or financial institution you sent money from. Report the incident to their fraud department and provide details of the fraudulent activity. Provide as much detail as possible about the transaction, including the date, amount, and any information you have about the fraudster.

  • Contact the Receiving Institution

 

Clear Junction acts as an intermediary providing services to financial institutions and regulated companies. If you transferred money through Clear Junction, the ultimate receiver was likely another financial institution (it could be a crypto exchange or banking platform). If you know the name of this company, contact this institution immediately and report the fraud to their fraud department.

  • File a Police Report

 

Contact your local police department. In the UK, you can also report online or to Action Fraud.

If you’re in England, Wales or Northern Ireland please report it to the police online or by calling 101. Also report it to Action Fraud online or by calling 0300 123 2040.

If you’re in Scotland, you should report to Police Scotland by calling 101, or contact Advice Direct Scotland on 0808 164 6000.

  • Monitor Your Accounts

 

Keep a close eye on your bank and other financial accounts for any suspicious activities or unauthorized transactions. Report any unauthorised transactions promptly to your bank.

  • Change Passwords:

 

Immediately change passwords on any accounts you think might have been compromised, especially online banking, email, and social media. Use strong, unique passwords for each account. Consider enabling two-factor authentication (2FA) for your online accounts. This adds an extra layer of security by requiring a code from your phone or email in addition to your password.

  • Install Security Software:

 

Ensure your computers and mobile devices have up-to-date antivirus and anti-malware protection installed. Run full system scans to check for any hidden threats.

  • Check Credit Reports:

 

Regularly review your credit reports from all major credit bureaus, set relevant alerts about any suspicious activity in your name. Look for any unauthorized accounts opened in your name, unusual inquiries, or changes in your credit score. Consider placing a temporary freeze on your credit report.

  • Be Cautious of Follow-Up Scams:

 

Fraudsters may attempt to follow up with additional scams. Be cautious of unsolicited communication and only interact with trusted sources.