Please be aware that there have been reports of a number of different scams linking to the Covid-19 pandemic. See our blog post for the latest trends and helpful advice on how to keep your money safe.
Authorised Push Payments (APPs) are a common method used by fraudsters to get their hands on your money. These scams can be very sophisticated and can have a devastating impact on victims.
To put it simply, an APP is when someone tricks you into making a payment you believe is genuine, but the account that you pay actually belongs to the fraudster.
Sometimes fraudsters will impersonate someone you already have a relationship with (like your bank, a business you’re expecting to make a payment to or a friend/relative), contact you out of the blue impersonating a genuine company (like a loan/investment company or HMRC) or pretend to have goods or services for sale that ultimately never exist.
There are many methods used by fraudsters which is why we may sometimes ask you to identify the reason for your payments. We’re not just being nosey, we want to make sure that we’re keeping your money safe!
To show our determination to tackle fraud, we have made a commitment to adhere to the Authorised Push Payment (APP) Scams Voluntary Code, a new industry code that introduces new standards for minimising the number of APP scams happening and reducing their impact on customers.