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Blog Security How we’re fighting the nationwide rise in fraud

How we’re fighting the nationwide rise in fraud

2 min. read
30 May 2023
30 May 2023
30 May 2023
2 min. read
30 May 2023

Fraud is on the rise across the country.

Increasingly clever tactics are being used to target individuals and businesses, as new technologies are providing fraudsters with new ways to access personal information and finances.

We’re dedicated to fighting this through new support teams and initiatives to enhance all of our members’ security.

How does fraud work?

Fraud typically takes the form of someone impersonating an individual or organisation.

By accessing personal information, such as names, phone numbers and bank statements, they can contact you from what appears to be a legitimate source and convince you that they’re genuine.

They’ll then often ask you to send money, give personal information or download malicious software – all to get at your finances and the finances of those you know.

To keep our members safe from these scams, we’re launching brand new strategies through every method at our disposal.

Our new Fraud Rapid Response team

Firstly, we’ve created our brand new, specialist Fraud Rapid Response Team.

Our team of fraud experts are on hand seven days a week to help you with any fraud-related issue or enquiry.

Whether you’ve noticed a strange transaction, believe you may have given information to a suspicious contact or just want to be 100% sure before making a payment, don’t hesitate to get in touch.

You can reach our specialist team, supported by Stop Scams UK, on 159 from the UK or +44 20 4587 0366 from outside of the UK. Lines are open 24/7.

If you’re hard of hearing and need written support, your Tide in-app chat is completely secure and available 24/7.

Our new anti-fraud partnership

We’ve joined forces with Stop Scams UK to fight the rising threat of fraud.

Their expertise has been paramount in helping stop the spread of scams, educating people on how to avoid fraud tactics and providing support to victims of these attacks.

As members of a network of esteemed financial institutions, we’re pooling our skills, knowledge and resources to keep everyone safe.

Find out more about the powerful work our new partners do here.

Our new fraud education page

Knowing how these scams work is a vital part of avoiding fraudsters’ tactics.

So we’ve listed all the key information you need to know to keep your finances safe.

From understanding the details of the most common scams to learning how to spot when someone is impersonating Tide, our dedicated fraud page has all the support you need.

Although no one can ever truly beat fraud, there are many ways we can fight it. We’ll continue to evolve and upgrade our systems, teams and educational content to stay ahead of scams and ensure everyone feels safe to do what they love.

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About the Author

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We understand businesses, it's all we do

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Tide Platform Limited (Tide) designs and operates the Tide website and app. Tide is not a bank. Tide is authorised by the Financial Conduct Authority (FCA) under the Electronic Money Regulations 2011 under firm reference number 900843 for the issuing of electronic money and the provision of payment initiation services and account information services under the Payment Services Regulations 2017. Tide is also authorised and regulated by the Financial Conduct Authority in relation to its credit and insurance broking activities (firm reference 718743). Tide is incorporated and registered in England and Wales with company number 09595646 and registered office at 4th Floor The Featherstone Building, 66 City Road, London, EC1Y 2AL. Tide offers bank accounts powered by ClearBank® Ltd (ClearBank) (account sort code is 04-06-05). ClearBank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 754568. Eligible deposits with ClearBank are protected up to a total of £120,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme. For further information visit Home. ClearBank Ltd is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register number: 754568). Registered Address: ClearBank, Level 27, The Broadgate Tower, 20 Primrose Street, London, United Kingdom, EC2A 2EW. Eligible deposits held in the Tide Business Current Account (powered by ClearBank) are covered by the Financial Services Compensation Scheme (“FSCS”) subject to eligibility. All eligible deposits at the same bank are aggregated to determine the coverage level for each depositor up to £120,000, therefore if you have any other product/services with ClearBank these will be aggregated. To find out more and to check your eligibility please visit: About us . Some of Tide’s members also hold e-money accounts powered by PrePay Technologies Limited (PPT) (account sort code is 23-69-72). PPT is an electronic money institution authorised by the FCA under the Electronic Money Regulations 2011 under firm reference number 900010 for the issuing of electronic money. PPT holds an amount equivalent to the money in Tide current accounts in a safeguarding account which gives members protection against PPT’ insolvency. Tide Cards may be issued by both Tide and PPT, who are licensed by Mastercard International for the issuance of cards. The issuer of your Tide card will be identified on your monthly card statement. Tide Capital Limited is an appointed representative of P1 Investment Services Limited which is authorised and regulated by the Financial Conduct Authority under firm reference number 752005 to carry out such regulated activities as are involved in the provision of Tide Investment Account. Seccl Custody Limited is the custodian of assets held in Tide Investment Account and is authorised and regulated by the Financial Conduct Authority (firm reference number 793200) and registered in England and Wales under No. 10430958. Registered office 20 Manvers Street, Bath BA1 1JW. Tide, the Tide logo, the Swell, and Do Less Banking are trademarks and trade names of Tide Platform Limited, and may not be used or reproduced without the consent of the owner.