Bank fraud costs the UK £1 billion a year. So why don’t we take it seriously?
In March and April this year, I received calls on my mobile from fraudsters purporting to be members of my bank’s fraud investigation team. They told me that my account had been hacked and that, to flush out the perpetrators, I needed to transfer money in accordance with their instructions to facilitate their investigation and (more threateningly) so as not to frustrate a wider investigation. I ended up transferring almost £30,000 from my Santander account to accounts with Barclays and Cash Plus Bank, both of which disclaimed any responsibility for my loss. I fell victim to “authorised push payment” (APP) ... (full story)
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