What is it?
A push payment fraud takes place when the fraudster manages to persuade the customer/victim to send money to the scammers account claiming to be someone else, such as your bank. The scammer can even get details out of you by pretending to be your banks fraud team!
What is the difference between push and pull payments?
A pull payment is when an account, such as a company, pulls money from a persons bank account (e.g. Direct Debit) whereas, a push payment is when the account holder sends money to another account.
Why do fraudsters use it?
As the fastest growing crime in Britain of 2017 scammers know that the results are there and there are people out there who will fall for this kind of scam.
What are the main ways fraudsters use Push payment fraud?
Many fraudsters use a phone or email to get to people e.g. asking for the victim’s pin numbers or sending an email of an invoice the victim thinks they need to pay. These calls and emails may sound legitimate but, they’re not.
Who can push payment fraud effect and how can it be avoided?
Push payment fraud can affect anyone at any time!
- Be sure to check who it is you’re sending you money to. To ensure it is a legitimate company
- Be suspicious of emails from tax companies – They will not contact you via email or text!
For advice go to Gov.uk