We read regularly about people who are subjected to fraudulent scams through their bank accounts. It’s often only when reading eye-watering figures such as those shown below, that the total scale of this crime is realised:
[I]"Which? is calling for stronger protections for fraud victims after finding more than £700,000 is lost to bank transfer scams every day.
UK Finance figures show a total of £412.9m has been lost across 189,000 cases of Authorised Push Payment (APP) fraud since the introduction of a voluntary industry code on reimbursement in May 2019 and the end of 2020. This equates to £707,000 a day, £29,000 an hour, or £491 a minute."[/I]
I don’t understand, with all the warnings being given, that people still get taken in by scammers! Transferring money from one account to another, on their say so. How can a customer accept that as being okay??
Sending money over to someone you think loves you and wants to come over to the UK but they have a continued run of bad luck, so need your money.
Some of it is under the floorboards , and the rest is sewn into the mattress Baz, but I’m beginning to get a bad back from sleeping on all those pound coins…
Never can understand (maybe one can) why, with account numbers, folks can’t be traced, the system seems to like a bit of fraud, just like the virus writers.
So … according to the Bank of England there are near 50M digital transactions in the UK daily, fast rising…
I can’t google up a figure of total worth. But £700K must be a drop in the ocean. Banks seem happier to write it off than warn their customers of what to lookout for.
The “professional” scammers (organised crime groups) move the money out of the account “your” money was moved into, PDQ into bank accounts in more secretive countries with more lax banking laws. Either that or they buy and sell Bitcoins - totally paperless and no trail to follow.
