Scammers have found a loophole in Britain’s fraud rules – and it leaves your money completely unprotected, writes Dean Dunham KC
Just when we thought consumers were finally getting better protection from bank scams, the fraudsters have found another way around the rules.
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New warnings highlight the rise of so-called “hybrid” scams, where criminals manipulate victims into using different payment methods or moving money between accounts they control before the cash ultimately reaches the fraudster.
Why does this matter? Because the way you move your money can determine whether you are entitled to reimbursement if you’ve been scammed.
Since October 2024, victims of Authorised Push Payment fraud have benefited from much stronger mandatory reimbursement rules. Broadly, if you’re tricked into transferring money to a........
