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Authorised Push Payment Fraud: 500,000 Euros Recovered

We are pleased to announce that, on 14 December 2023, our client received in excess of 500,000 euros lost to Authorised Push Payment Fraud (APP).

As reported by Experian, ‘Authorised push payment (APP) fraud is one of the fastest growing types of scams around. It’s claimed more than £145 million was lost in the first half of this year, which is 44% higher than in the same period of last year’.

Our client, an experienced and intelligent entrepreneur, was scammed into sending circa 588,000 Euros to a fraudulent bank account. The scammers had created an email account and a domain almost identical to our client’s business associate, which led our client to believe the payment instructions were correct. The client was referred to Rokhsareh by a previous client. Whilst on holiday and overnight, Rokhsareh reviewed the records and she arranged to freeze the recipient bank account almost immediately. Thereafter, with the help of David Burns, a Court order was obtained, and more than 500,000 euros were recovered and returned to our client. 

In the current economic climate, it is extremely important to be aware of scams. Anyone can become a victim and it is crucial to adopt policies and procedures that minimise or avoid these situations. For instance, when sending payments to a third-party bank account, it is advisable and prudent to call and confirm the recipient’s bank details by telephone before any funds are sent out.

To succeed in these cases, it is extremely important to act very swiftly and competently. If you or someone you know becomes a victim of Authorised Push Payment Fraud (APP), please email Rokhsareh Vahid immediately.

 


Contact Us:

  • Rokhsareh Vahid: Solicitor & Sanctions and Banking Specialist  This email address is being protected from spambots. You need JavaScript enabled to view it. │ 0161 507 3658 
  • David Burns: Senior Litigation Partner  This email address is being protected from spambots. You need JavaScript enabled to view it. │ 020 7467 5751

 

Additional Info

  • News Author: David Burns | Rokhsareh Vahid