How to avoid push payment fraud

push payment

Push payment fraud happens when cybercriminals trick people into sending them money. Because the individual thinks the cybercriminal is genuine, they authorise the handover of cash. The money is then swiftly transferred to different accounts, often abroad, which makes getting it back almost impossible.

Push payment fraud is carried out in many different ways, but ultimately fraudsters are looking to trick you into believing that you are making a payment to someone you can trust.

In some cases, the criminals involved might call hundreds (or even thousands) of people in the hope of deceiving someone. But often these scams are highly targeted and come after hacking a victim’s emails to identify the information needed to defraud them. Push payment fraudsters might also use information violated during a data breach to target their next victims.

Find out more about push payment fraud.

What can you do to protect yourself from push payment scams?

  • Never disclose security details such as your PIN or full banking password
  • Don’t assume an email, text or phone call is authentic. Just because someone knows some personal information about you (i.e. your mother’s maiden name), that doesn’t mean they are genuine
  • Know that banks or other trusted organisations will never contact you and ask for your PIN or full password, or ask you to transfer money to a safe account
  • Be aware who you’re sharing your personal information with. Only give out details to a service you trust and that you’ve contacted directly or are expecting to be contacted by. Even then, do not hand over sensitive information such as your PIN or password
  • Don’t be rushed into handing over personal or financial information
  • If something doesn’t feel right listen to your instincts. Leave the conversation if it makes you at all uncomfortable
  • Always question who you’re talking to. If in any doubt call them back using trusted contact details (you can usually find these on your bank cards) to check the request is genuine
  • Don’t be afraid to say you’ll get back to someone using the phone number or email address as listed on their website. A legitimate organisation would never try to panic you out of taking security checks
  • Never automatically click on a link in an unexpected email or text
  • Make sure you look at the address bar when logging into a website. If there is a padlock icon your connection is secure. If a site doesn’t have this lock icon, do not share any sensitive information
  • If you’re worried that you may be at risk, report it to the Police or Action Fraud straight away.

Getting your money back if you are a victim of push payment fraud

If you have been the victim of a push fraud and need help getting your money back, there is some good news.

Historically, banks avoided paying push payment scam compensation to victims unless there was a fault in their processes. This is because the customers have authorised the payments. However, because of new regulations, people who have been scammed into transferring money directly to a cybercriminal can expect stronger protections.

However, if you have been a victim of this form of cybercrime and your bank is refusing to help, we might be able to help you get your money back, as well as compensation for any distress suffered.

 To do this, we are considering a group action claim against banks who have failed their clients after they have lost money through no fault of their own. A group action is where a group of people, all affected by the same issue, collectively bring their cases to court. Group actions can be a powerful tool and can have a bigger impact than a single claim.

Find out more about making a Push Payment Group Action Claim

Get digitally aware

At Hayes Connor Solicitors, we want to reduce the number of data violations and successful cyber scams taking place across the UK. To do this, we are raising awareness of this issue and educating people to help stop fraudsters in their tracks.

For more advice on how to keep safe, follow us on Twitter and Facebook.

Alternatively, contact us find out how we can help you to recover any losses. We can help you to claim compensation and steer you through the aftermath of a bank or credit card scam – minimising the impact on you as much as possible.