‘HELP! I’ve been DEFRAUDED’

We’ve all seen the computer pop-ups saying we can win a prize by handing over our bank details. While it’s clear for most of us that it’s a scam, new technology makes it harder to tell the difference between innocent bank correspondence and someone trying to con you. Financial fraud has risen more than any other crime in recent times and, in 2017, more than £731million was lost due to unauthorised payments on cards, remote banking and cheques. Here’s how to stay safe…

WHAT IS FINANCIAL FRAUD?

This is whenever money is taken from your bank account without consent. One of the most common forms is identity theft, which hit an all-time high last year. In 95% of cases, impersonation was used to access money or open an account. The fraudsters most prolific way of getting information is by calling or texting.

WHAT SHOULD I DO?

Tell your bank straight away so that they can cancel any cards or cheque books to stop more money being taken. But be careful – don’t click through links to get to your bank. Instead, type in the URL or phone the number that’s on any legitimate correspondence you’ve received.

If you think you’re a victim of identity theft, contact credit reference agencies like Experian, Transunion and Equifax. Ask them what’s on your file and explain any applications that weren’t you. The agencies will investigate.

Report the crime to Action Fraud (actionfraud.police.uk) for advice and to help them crack down on scams.

HOW DO I GET MY MONEY BACK?

The bank should refund you within 24 hours of contacting them. However, if they believe the loss of money was due to negligence or that you’re acting illegally (for example, lying about a purchase you made), they can delay or refuse the payment. If refused, you can only get the money back by taking the fraudster to court.