Authorised Push Payment (APP) Fraud is becoming one of the most common scams. This is where a criminal tricks you into transferring money to them. It is common for the fraudsters to pretend to be a trusted organisation such as your bank or investment provider, the FCA, HMRC or law enforcement.

In these instances, the fraudsters will attempt to use a range of tactics. Often, the fraudster will inform you that your money is at risk or has been compromised and you need to move it to a “new” account or a “safe” account that’s been opened for you. They will sometimes give you a script or specific wording and ask you to lie to your bank regarding the reasoning for the withdrawals.

How to spot the signs 👁

  • Being asked to send money to a “safe” or “new” account

  • Receiving cold calls from individuals purporting to be your bank, law enforcement, HMRC or the FCA

  • High pressure to make a payment as quickly as possible - they will contact you most days

  • Receiving fake emails or an invoice changing the payment details

  • Being asked to lie to your bank about the reason for your payment, or cash withdrawal - a red flag for a scam

  • Be mindful of emails you are sending and the information this includes as they can easily be intercepted and changed

  • Never disclose full security details over the phone

  • Ask questions and be sure to perform your own research around the contact you have received

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