News
15:53, 26/4/2024
APP fraud or scams typically happen when fraudsters manipulate their victims into making payments under false pretences. They are called ‘authorised’ as they depend on the victim voluntarily transferring the money.
There are different types of APP fraud, the most common ones are:
The Financial Ombudsman Service is seeing a huge increase in fraud and scam complaints.
The FOS say that the uphold rate for fraud continued to remain higher than the Financial Ombudsman’s average for all financial products and services, which is 35%. The uphold rate for all fraud and scams is 45%.
If you think you might be being scammed, ask yourself the below questions:
Cold calls or unexpected correspondence may be a cause for concern, especially if you are being asked to give personal information or make a payment.
You should not share any personal or bank details with anyone if you are not 100% certain that they are who they say they are.
If a deal seems too good to be true, it probably is. A scam will often present high returns for little financial commitment.
Don’t let anyone, especially scammers and fraudsters, pressure you into important decision making. It’s okay to take some time to think things through. Genuine companies should always allow time for you to make an informed decision.
There are options available to recover your money. Recovery of the money can be sought from the financial institution that should have prevented the fraud. In some instances, there may also be other regulated firms involved who also could have detected the fraud and issued a warning.
You can attempt to recover the funds yourself without legal representative however there are benefits to having instructed Oakwood Solicitors to do this for you. We are a regulated firm of Solicitors, with over 20 years’ experience in financial mis-selling claims.
By using a solicitor who is a specialist in financial mis-selling claims, we aim to take the hassle out of the claims process as we do all the hard work for you.
Financial mis-selling – Oakwood Solicitors
Get in touch today for a no-obligation consultation. Choose one of the methods on the right-hand side of this page, or call us on 0113 200 9720 to find out how we can help you.
BlackStar Wealth Management – Has your pension lost money?
Has your pension lost money after being advised to transfer by Blackstar Wealth Management? Who were BlackStar Wealth Management Limited? Blackstar Wealth …
ViewBlack Friday 2023: List of scams to be aware of and how to report them
Black Friday is upon us, and that means shoppers flock to splash the cash to bag that one-day-only deal. However, some discounts are not all as they seem – and with thousands of …
ViewAdvisory Trading for beginners
Things you may need to know before you start trading on the Financial Markets with a Broker or an Independent Financial Advisor (IFA). What is Advisory Tradi…
ViewNews categories
Why Oakwood?
Here at Oakwood Solicitors, we’re not your average law firm – our team delivers a service which caters to you. From assessing your case through to completion, our staff have not only the knowledge and expertise, but also the compassion and understanding to put you at ease throughout the process.
Get in touch
You are leaving Oakwood Solicitors' website.
Please click here to continue to the Oakwood Property Solicitors' website.
ContinueCookies
This website uses cookies. You can read more information about why we do this, and what they are used for here.