Authorised push payment fraud involves deceiving payers into sending payments to criminals. Here’s a particularly vicious example: a first-time house buyer goes to transfer their deposit to their solicitor to complete the deal, only to find out the solicitor’s email has been hacked and they’ve sent their deposit to a fraudster.
APP fraud is financially and psychologically devastating for the victim and lucrative for the fraudster. And it’s common: in 2022, close to half a billion pounds was stolen through APP fraud in the UK alone.
