Bank transfer scams, also known as Authorised Push Payment (APP) fraud, are an increasingly common form of cybercrime in which criminals manipulate victims into transferring money directly from their bank account to the account of the fraudster.
This is done using a combination of social engineering techniques such as:
Once the scam victim has willingly authorised the transaction, because they believe the request for money to be genuine, the fraudsters will move the money on from the receiving account, often overseas, making it virtually impossible to recover. In some cases of ‘two-step bank fraud’, victims are instructed to move their own money first from one bank to another, and then again into ‘a new account’ set up in their name – which is in the control of the scammer.
If you suspect you have been the victim of an APP scam, then urgently report this to the bank, the police, and Action Fraud, the UK’s national reporting centre for fraud and cybercrime. If you have lost money, this may lead to a criminal investigation by the police. However, as the nature of APP scams mean that victims have authorised the transactions themselves, sometimes banks refuse to accept liability for the scam and refuse to pay any refund or compensation.
If this has happened to you, there are next steps that can be taken to refund your losses.
or call us on 0800 169 5925
There are steps that can be taken if your bank has not met its duties to prevent scams on your account.
The Financial Ombudsman Service (FOS) is an independent, Government-backed body responsible for resolving disputes between financial institutions, such as banks, and their customers. If customers have complained to their bank following an APP scam and have been refused financial reimbursement, the case can be taken to the FOS for an independent review.
In recent years, there have been a number of FOS decisions in which UK banks, such as NatWest, have been found to have failed in their duty of care to consumers by detecting and stopping APP scams as they happen. As industry experts, banks should be regularly monitoring accounts for potentially suspicious activity and halting or investigating any unusual bank account transactions.
While scammers may typically target the elderly and those less ‘tech savvy’, no one is safe from APP fraud, so it pays to be aware of the red flags that indicate fraud.
The Action Fraud website is an excellent resource and gives helpful advice on preventing scams and fraud:
Our dedicated APP Fraud team has many years of experience dealing with FOS and successfully claiming compensation.
We understand the time limits to be followed, the information needed and the claims and appeals processes. The team will also deal with any complex legal arguments and defences that the bank may raise.
Combining our experienced team and digital case management systems means we can proactively pursue your claim, keep you fully up to date at every stage of your case and aim to get the best possible results.
The specialist fraud team at TLW Solicitors are helping many clients recover refunds on a no-win, no-fee basis. If you have a claim, we will deal with your claim from start to finish, whilst keeping you up to date as the case progresses.
The steps in the claims process are:
Members of TLW Solicitors’ APP Fraud team have been featured on the BBC’s consumer programme, Morning Live and in a BBC One series, ‘Northern Justice’. Episodes from the programme show how TLW Solicitors helped scam victims recover substantial compensation.
Full details about the BBC series and how TLW successfully supported our clients can be found here.
If you, a friend or a relative has been the victim of a NatWest bank transfer scam, please contact our specialist team for a no-obligation discussion about your claim.
We offer a confidential, no-obligation assessment of your case and will decide whether to pursue your claim. If we take on your case, we operate on a ‘no win, no fee’ basis, meaning you do not pay us anything if your refund claim is unsuccessful.
You can call us on 0800 169 5925, email info@tlwsolicitors.co.uk or complete either the make a claim online or call-back forms below.
Getting advice as soon as possible is important as strict time limits can apply.
Minimum case values apply.
Meet Sarah, who heads up our experienced Authorised Push Payment Fraud Claims team.
Sarah and her colleagues are on hand to help with your claim.
