Britons were cheated out of £56m in the first six months of 2024 alone – and sum is probably higher as many victims do not report their losses
The leak of 1m audio files from scam call centres in Georgia shines a light on the ruthless methods used to trick people into fake cryptocurrency investments. The scheme uncovered is a type of “authorised push payment” (APP) fraud which involves tricking someone into voluntarily sending money from their bank account.
Until late last year APP scam victims faced a lottery as to whether they would get their money back, but that uncertainty has all but disappeared. In the autumn the payments industry watchdog introduced mandatory rules that make it “quicker and simpler” for consumers to be reimbursed. Here we explain the protections in place for victims.
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