MEMORIAL FUND THEFT

Posted on December 6, 2011 by


MEMORIAL FUND THEFT

We would like to bring to the attention the fact that on the 31st October a male from London stole £20.00p from the Allied Special Forces Memorial Fund to pay for motor insurance with Budget Motor Insurances Limited (BISL).  A second opportunist stole £6.90 for Pet Insurance from the Allied Special Forces Association account, of which we have not been able to identify the thief yet.

Both accounts are with the NatWest Bank in Hereford.  Both need two signatories on cheques/transfers and any other business connected with the accounts.

However, the male in London called BISL and gave our Memorial Fund account number and sort code, both of which are clearly displayed on our website.  He then set up a Direct Debit, which stole £20 on the 31st October but would have risen to £100 a month if this had not been halted.  He also set up Direct Debits for two cars with the AA. These were fortunately stopped before being activated.

Both amounts were refunded on the same day these were discovered but this was 11 days later.  Having spoken at length to the NatWest Fraud department we find that just anyone can set up Direct Debits on virtually any account just using the account number and sort code, even though two signatories are required on ours!

As this fraud is so easy to perpetrate, we though it might be worth bringing to the attention of other associations and societies in case they might have had vital funds stolen as well.

Modus Operandi

Most likely to set up Direct Debit accounts, pay for services from unsuspecting associations/ societies and after the second Direct Debit of £100 is paid they then cancel the insurance and direct the balance to another account than the one they have stolen it from.

The banks cannot protect you from this fraud. Only refund your account after the theft, if you happen to notice it!

 Yours faithfully,

 Mike Colton

Secretary

Allied Special Forces Association

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