CEL Solicitors, a well-rated law firm specialising in fraud, highlights seven common types of APP fraud and provides guidance on how victims can reclaim their money. The company, rated excellent on Trustpilot, has helped fraud victims recover over £100 million, emphasizing that falling for a scam is not shameful and can happen to anyone. According to UK Finance, there was an increase in the number of Authorised Push Payment (APP) fraud cases in the previous year. APP fraud occurs when an individual is deceived into making a payment to a criminal posing as a legitimate payee, without directly accessing the victim’s bank account.
One common type of APP fraud is the purchase scam, where fraudsters create fake advertisements for products or services, leading victims to pay for items they never receive. Investment scams involve convincing victims to invest money in schemes promising high returns, such as cryptocurrencies or forex trading. Romance scams exploit victims’ emotional vulnerabilities by establishing a fake romantic relationship and then requesting money for various reasons. Advanced fee scams involve victims paying a fee to release promised goods or services which are never received. Similarly, invoice scams target individuals or businesses by creating fake invoices to request payment for nonexistent or overpriced items or services.
CEO scams target employees by impersonating high-ranking officials within an organisation to coerce urgent payments to fraudulent accounts. Impersonation scams go beyond posing as CEOs, with scammers claiming to represent trustworthy entities like HMRC or banks, tricking victims into paying fictitious fines or transferring money to fraudulent accounts. To reclaim lost funds, victims are advised to notify their banking provider immediately and seek assistance from CEL Solicitors if the bank fails to offer support. The law firm can bring no win, no fee claims against banks and payment providers, escalating cases to the Financial Ombudsman Service if necessary. CEL Solicitors also offers a tracing service for cryptocurrency-related claims and can pursue fraudsters through legal means if identified.
CEL Solicitors stresses the importance of remaining vigilant and cautious when receiving unsolicited calls or requests for payment, even if the caller appears to have legitimate information. Victims should verify the identity of the caller independently and refrain from disclosing sensitive information or transferring money without confirming the request’s authenticity. Recovering funds lost to scammers can be a complex process, given the evolving nature of these scams. The law firm thoroughly reviews all possible avenues for recovery, including seeking reimbursement from banks and payment providers, tracing digital assets involved in cryptocurrency scams, and pursuing scammers through the legal system. Time is crucial in the recovery process, so victims are encouraged to seek assistance as soon as possible to increase the likelihood of successful recovery.
