APP Fraud PROTECTING YOURSELF
Protecting Yourself from APP Fraud
There’s no doubt that APP fraud is a cause for concern. The sums of money lost can be life-changing for private individuals and businesses alike.
However, there are a number of simple steps you can take to reduce your risk of making a costly mistake.
Be Sure
If a contact requests money or informs you of an account change, don’t send money until you can verify the request with 100% certainty at the source. Never rely on emails or texts, which can be hacked and faked with relative ease.
Don’t Rush or Be Rushed
Requests for early or expedited payment are a common feature of APP fraud. Scammers often cite cashflow problems or other excuses in a bid to pressurise victims into transferring quickly. Take as much time as you need to verify invoices and remember that genuine organisations shouldn’t use time pressure to get quicker payments.
Verify Contact Details
Bogus invoices and payment requests can be extremely convincing and may include fake contact details and a direct line to the scammer. When verifying payment requests, always use a familiar or trusted contact number. Visit the business in person if you are unsure.
Verify Payment Details
Always check payment details personally before making a bank transfer, especially if there are discrepancies between the named account and the organisation or person you are dealing with.
Beware of Harvesting
The free flow of data on social media, as well as hacking and data breaches, have made it easier than ever for fraudsters to get hold of confidential information. So never assume a payment request is valid because the sender knows your private information.
Beware of Social Engineering
Take steps to limit the information that is publicly available on social media sites and never respond to requests for personal data or passwords – a genuine organisation should never ask you for personal data.
Stop Hackers
Use secure passwords and opt for two-factor authentication wherever it is available to reduce the risk of accounts being accessed fraudulently.
We are working with a large number of victims of APP fraud, so if you would like an informal discussion about your own case, please contact us in confidence and we will get back to you.
HAVE YOU BEEN THE VICTIM OF APP FRAUD?
EFT Holdco is working with victims who have lost +£10,000 to authorised push payment fraud.
If you are a victim, contact us today at office@efthold.co.uk to arrange a confidential discussion about your case.
We are on your side!