Protect Yourself from Authorised Push Payment (APP) Scams

Introduction

Overview of Authorised Push Payment (APP) Scams
Authorised Push Payment (APP) scams are a growing concern, causing significant financial losses to individuals and businesses. These scams involve fraudsters tricking individuals into authorising payments to accounts controlled by the scammers. APP scams can have devastating consequences, leading to substantial financial losses and emotional distress for victims. As an FCA regulated Claims Management Company, we aim to educate consumers on how to identify and protect themselves from these scams.

What are Authorised Push Payment (APP) Scams?

Definition and Explanation

Authorised Push Payment scams occur when a fraudster tricks someone into willingly sending them money. This can happen through various methods, such as impersonating a trusted individual or organisation. Once the payment is made, it can be challenging to recover the funds.

Types of Authorised Push Payment (APP) Scams

Impersonation Scams: Fraudsters pose as bank officials, police officers, or other trusted authorities to convince victims to transfer money.

Invoice Scams: Scammers intercept invoices and change payment details to divert funds to their accounts.

Romance Scams: Criminals create fake profiles on dating sites to build relationships and eventually persuade victims to transfer money.

Impact on Victims

Victims of APP scams can suffer significant financial loss, emotional distress, and a loss of trust in financial institutions. Recovery of funds is often challenging, making it crucial to prevent these scams from occurring in the first place.

Key Statistics on APP Scams

• Reported Cases: According to UK Finance, there were over 100,000 cases of APP fraud reported in the UK in 2022.
• Financial Loss: Victims of APP scams lost over £500 million in 2022.
• Increase in Scams: The number of APP scams has increased by 30% compared to the previous year, highlighting the growing threat.

If you have been a victim and lost money as a result of an APP scam, contact Resolved Claims Limited on 0800 368 5110 today or email us at info@resolvedclaims.co.uk. Alternatively, complete our Online Contact Form, and we will contact you to discuss your case. We are a long-established FCA Regulated Company committed to helping clients under a No Win, No Fee arrangement successfully recover funds lost to fraud or scams. For more detailed information, see our article on Lost Money to A Scammer– WhyUse Resolved Claims to Help Get Your Money Back?.

How to Identify Authorised Push Payment (APP) Scams

Common Signs of APP Scams

• Urgent Requests: Scammers often create a sense of urgency to pressure victims into making quick decisions.
• Unexpected Requests for Payment: Be wary of unexpected payment requests, especially if they come from unfamiliar or unexpected sources.
• Unusual Payment Methods: Fraudsters may ask for payment through methods that are difficult to trace or reverse.

Verification Tips

• Verify the Request: Always verify payment requests by contacting the organisation or individual directly using known contact details.
• Check for Red Flags: Look for inconsistencies in emails, such as poor grammar, spelling mistakes, and unfamiliar email addresses.
• Use Secure Payment Methods: Use payment methods that offer protection, such as credit cards or secure payment platforms.

Have you been targeted and lost money? Call Resolved Claims Limited on 0800 368 5110 or email us at info@resolvedclaims.co.uk. Alternatively, complete our Online Contact Form and we will get in touch to understand the details of your case.

How to Protect Yourself from Authorised Push Payment (APP) Scams

Practical Steps for Consumers

• Educate Yourself: Stay informed about the latest APP scam tactics and prevention methods.
• Be Sceptical: Question unexpected payment requests, even if they appear to come from trusted sources.
• Use Two-Factor Authentication: Enhance security by enabling two-factor authentication on your financial accounts.
• Report Suspicious Activity: Report any suspicious activity to your bank and Action Fraud.

What to Do If You are a Victim of an Authorised Push Payment (APP) Scam

Immediate Actions

• Contact Your Bank: Immediately notify your bank of the scam and request them to initiate a recall of the payment.
• Report the Scam: Report the incident to Action Fraud and any relevant authorities.
• Preserve Evidence: Keep all communications and documents related to the scam.

Long-Term Recovery Strategies

• Seek 30%Support: Reach out to support groups or counselling services to address emotional impacts.
• Inform Employers: If identity theft occurs, inform current and potential employers of the situation.
• Stay Vigilant: Be cautious of future payment requests and continue to use best practices to protect yourself.

Conclusion

Recap of Key Points

Authorised Push Payment scams are a serious threat that can lead to significant financial and emotional harm. Understanding the common tactics used by scammers and knowing how to identify and avoid these scams is crucial for protecting yourself and your loved ones.

Final Thoughts

Stay informed, be cautious, and use the resources available to verify payment requests and protect your personal information. If you suspect an APP scam, take immediate action to report it and safeguard your financial and personal well-being.

Frequently Asked Questions (FAQs)

What should I do if I suspect an APP scam?

Research the payment request, contact the requester directly using known contact details, and report the suspicious activity to your bank and Action Fraud.

Can I recover money lost to an APP scam?

Recovery can be challenging, but reporting the scam to the authorities and your bank promptly can improve your chances. If your bank is unwilling to refund you or offers only partial reimbursement, do not lose hope. You have the right to escalate your complaint for free to the Financial Ombudsman Service for further investigation on how to recover your money. Alternatively, you can choose to seek assistance from Resolved Claims Limited who will under a No Win, No Fee arrangement take proactive steps to help you to reclaim your lost funds. Call us today on 0800 368 5110 today, email us at info@resolvedclaims.co.uk, or complete our Online Contact Form and we will contact you to discuss your case.

How can I protect myself from APP scams in the future?

Educate yourself about common APP scams, use secure payment methods, verify payment requests, and enable two-factor authentication.

Useful Resources for Checking and Reporting Scams

• Action Fraud
  • Reporting fraud and cyber crime
• UKFinance
  • Fraud the Facts 2023
• Citizens Advice
  • Scams Advice

Using these resources, you can stay informed about the latest APP scams and protect yourself from falling victim to fraudulent schemes

Remember: Protecting yourself from Authorised Push Payment scams requires vigilance and knowledge. If you have lost money to a scammer, call Resolved Claims Limited on 0800 368 5110 today, email us at info@resolvedclaims.co.uk, or complete our Online Contact Form and we will contact you to discuss your case. We are dedicated to helping you recover lost funds and providing the support you need to navigate this challenging situation. Stay informed, stay vigilant, and together, we can protect ourselves from the dangers of fraud and scams. For more resources and information, visit our website and read our article on Lost Money to A Scammer– Why Use Resolved Claims to Help Get Your Money Back?.