How we prevent fraud

A fundamental part of our business is fraud prevention. We know that you want to receive an exceptional client experience, and we know that safeguarding your financial security is essential. As the threat landscape changes every day, we work around-the-clock to optimise the controls that keep all of our clients protected.

Real-time fraud detection system 

We use a fraud detection solution to identify potentially fraudulent transactions from your account. Alerts are reviewed by our dedicated fraud team, who monitor transactions 24 hours a day. 

Voice biometrics

With your consent, we use advanced software to authenticate your identity when you phone our contact centres.  

Knowledge-based authentication

In some instances, our colleagues will ask security questions as part of the telephone authentication process. We will only use this information strictly in accordance with our banking terms and conditions to protect your privacy and security.

One-time passcodes

For certain activities carried out on Investec Online that may indicate a higher risk of fraud, we may send you a one-time passcode via SMS as an extra layer of security. 

Two-factor authentication

When you login online, we will authenticate your identity through your mobile app or through a one-time passcode via SMS.

Timed log out

You will be automatically logged out of Online Banking if you don’t use the service. If you forget to log yourself out, this will give you added protection.

Deactivation of your login details

If three incorrect attempts are made to log in using your credentials, we will temporarily block access to your Online Banking service. This helps prevent unauthorised access to your account.

Data encryption

Our Online Banking service is hosted on a secure platform. This means that any information you send us is encrypted for your protection. 

Malware detection

We have anti-malware detection systems on our online and mobile banking applications. This helps us to identify whether your device’s security has been compromised. 

Transaction SMS notifications

We send transaction notifications when you spend on your card, as well as when a payment is made from your online bank account. This helps you know immediately if there is as unexpected action.

To ensure Investec clients are able to spot fraud and protect themselves, we work hard to provide information and advice on the latest trends:

• We offer helpful tips, including an A-Z of Fraud.
• We use educational campaigns to raise awareness of new and existing scams.  
• We participate in the national ‘Take Five’ campaign which offers impartial advice to help protect you from financial fraud. 
• We remind you to be aware of fraud when you enter beneficiary details for a payment online. 
• We issue internal communications and training and utilise industry experts to inform our colleagues on fraud trends and how to spot them. This enables us to offer even better service our clients. 

We contact our clients using phone calls, text messages, and emails. All clients should take care to ensure they are talking to a genuine member of staff. Investec will never:

• Ask for your PIN 
• Request personal details or other sensitive information via email 
• Request you click on a link to access your account

Instead, we may interact with you in the following ways:

One-time passcodes

When we need to verify who you are, we’ll send a unique code to the mobile phone number you gave us. The text will state exactly what the code is for, like creating a new beneficiary. These one-time passcodes should never be shared, and should only be used for the transaction that they are intended for.

Transaction SMS notifications 

We send transaction notifications when you spend on your card as well as when a payment is made from your online bank account. This ensures you know what’s happening on your account when there is unusual spending.

Email notifications

If suspicious activity is identified on your account and we can’t reach you through other means, we may email you requesting that you make contact. If you are unsure whether a call or email is genuine, do not hesitate to stop all communication (hang up or don’t respond to the email), and call us using a number from a trustworthy source or the 24/7 global client service centre.

If you suspect fraud on your account, contact us immediately on one of these numbers:

UK: 0330 123 1966 / +44 20 7597 4044

A dedicated member of staff will be able to help you 24 hours a day.

Investec is committed to protecting our staff and clients, in line with industry standards. To do this:
 

• We are a member of UK Finance and take an active part in several Industry Fraud initiatives.
• We are a member of CIFAS – The UK Fraud Prevention Service.
• We contribute to the funding of the City of London Police’s Dedicated Card and Payment Crime Unit (DCPCU). In return, they share information about current threats and related law enforcement action.
• We share fraud intelligence with other firms to protect our customers.
• We benchmark ourselves against other banks to ensure our controls meet industry standards. 
• We have implemented the Authorised Push Payment (APP) Fraud industry best practice standards. This means that if you are a victim of a scam, we will cooperate with other banks to recover funds where possible.
• We attend industry conferences to maintain fraud knowledge, awareness of horizon fraud threats and new technologies to help protect against them.