BUSINESS owner Andrew Sykes nearly lost his livelihood after falling victim to scammers who stole £13,000.
APP fraud, or authorised push payment fraud, is where a victim unwittingly sends money to a scammer who is pretending to be someone they associate with. After finding out enough information to impersonate a company or individual, the crook then contacts the victim while pretending to be this person they know.Unfortunately many fraudsters end up succeeding as the victim thinks they know the person asking for money.Almost half of UK banks and building societies haven't yet signed up to a new voluntary scam code designed to help APP fraud victims.
According to UK Finance, payment service providers representing more than 85 per cent of balance transfer fraud have already signed up.There were 57,549 reported APP fraud cases in the first half of 2019 — a 69 per cent increase on the same period last year. He immediately contacted his bank - Clydesdale and Yorkshire - and was told that because he had authorised the payment there was nothing they could do.He had filled out his own account number wrong but the payment had still been processed.
Ask the bank to pay you ur money..
Did the bank change it of the fraudsters?
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