APP Fraud

Our approach to fraud

BCB Group operates on compliance-first principles. We have zero tolerance for criminal activity on our platform, and we invest continuously in our compliance, security and fraud-prevention teams, processes and technology.

BCB provides payment accounts to businesses only; we do not offer accounts direct to individual consumers. Many of our clients, however, serve retail customers. We use our position as a leading payments provider to the digital-asset industry to support a safe, secure ecosystem for our clients and for their customers.

Authorised push payment (APP) fraud remains one of the largest sources of fraud losses in the UK, and retail consumers are especially exposed. We work with our banking partners, other payment service providers, regulators, law enforcement and industry bodies to make our services, and our clients' services, resilient to fraudsters.

What to do if you think you have been a victim of APP fraud

Act quickly. The sooner a scam is reported, the better the chance of stopping or recovering the money.

1. Contact your own bank or payment provider straight away. Your bank (the "sending" provider) handles your reimbursement claim.
2. Report it to the police. In England, Wales and Northern Ireland, report to Report Fraud (formerly Action Fraud) online or on 0300 123 2040. In Scotland, call Police Scotland on 101.
3. Stop all contact with the fraudster and keep any messages, emails, call logs and payment details.

If you are a payment service provider raising an APP scam claim against a payment received by BCB, please use the Faster Payments reimbursement claim process or contact BCB’s Fraud Claims Department ([email protected]).

APP fraud reimbursement in the UK

From 7 October 2024, UK payment service providers must reimburse eligible victims of APP scams made by Faster Payments. An equivalent regime applies to CHAPS payments, set by the Bank of England.

What is not covered. The rules do not cover civil disputes (for example, a genuine supplier that fails to deliver), payments made by card, cash or cryptoasset transfer, international payments, payments to another account in your own name, or cases where the victim is party to the fraud.

Taking reasonable care. Providers can decline a claim if a customer has been grossly negligent, for example by ignoring specific warnings from their provider or the police. This does not apply to customers who were vulnerable at the time of the scam.

If you are unhappy with how a claim was handled, you can complain to the provider and then to the Financial Ombudsman Service, which can award more than £85,000 where wider rules apply.

BCB's role. BCB offers payment accounts to businesses only, so most claims involving BCB arise where BCB is the receiving provider. We meet our obligations under the reimbursement rules, share information with sending providers, and take action against accounts used to receive fraudulent funds.

The APP scam reimbursement rules remain in force while the Payment Systems Regulator’s functions are being transferred and consolidated into the Financial Conduct Authority.

What is APP fraud?

Authorised push payment (APP) fraud happens when a criminal tricks a person or business into sending money to an account the criminal controls. Unlike unauthorised fraud, the victim makes the payment themselves, so the transaction can look legitimate to banks and payment providers.

APP fraud cost UK victims £576.4 million in 2025, up 19% on 2024, and made up about a third of all UK payment fraud losses. Investment scams were the largest category, at £221.5 million. Around two-thirds of APP scams started online. (UK Finance Annual Fraud Report 2026)

Common types of APP fraud

Investment scams. Victims are offered high returns on crypto, shares, property or other schemes that are fake or grossly misrepresented. Fraudsters often use social media adverts, fake trading platforms that show invented profits, and deepfake videos of celebrities or public figures. They may ask the victim to install remote-access software such as AnyDesk.

Example: a victim sees an advert endorsed by a well-known personality, opens an account on a professional-looking platform, and watches a small deposit "grow". When they try to withdraw, they are asked to pay fees or taxes first.

Crypto recovery scams. Fraudsters target people who have already lost money, posing as lawyers, regulators, police or "recovery specialists" who can retrieve lost crypto for an upfront fee.

Example: after reporting an investment scam online, a victim is contacted by a "recovery firm" that claims to have traced the funds and asks for a fee to release them.

Impersonation of a bank, the police or a public body. Fraudsters pose as a bank fraud team, the police, HMRC or another trusted organisation. They claim the victim's account is at risk and persuade them to move money to a "safe account".

Example: a caller whose number appears to be the victim's bank says their account has been compromised and talks them through transferring their savings to a new account.

CEO and executive impersonation. Fraudsters pose as a senior executive and pressure finance staff into making an urgent, confidential payment. Spoofed email addresses, hijacked messaging accounts and AI-cloned voices are increasingly used.

Example: an employee receives a voice note that sounds like the CEO, asking for an immediate transfer to close a confidential deal.

Invoice and mandate fraud. Fraudsters intercept or imitate a genuine supplier and ask for payments to be sent to new bank details.

Example: a business receives an email from what looks like a regular contractor, saying their bank account has changed. The next payment goes to the fraudster.

Purchase scams. Victims pay for goods or services, often advertised on social media or online marketplaces, that never arrive.

Example: a buyer pays a deposit by bank transfer for a car advertised well below market price, and the seller disappears.

Romance scams. Fraudsters build a relationship online over weeks or months, then ask for money for an emergency, travel or a joint "investment".

Example: an online partner who has never met the victim in person asks for help paying medical bills abroad.

Advance fee scams. Victims are promised a prize, inheritance, loan or job in return for an upfront fee. The reward never arrives.

Example: a person is told they have won a foreign lottery and must pay a processing fee to claim it.

Protecting yourself and your business

• Verify any request for payment, or any change to payment details, using contact details you already hold. Never use the details in the message itself.
• Check the Confirmation of Payee result before sending money. If the name does not match, stop and check.
• Be wary of unexpected contact, pressure to act quickly, or requests for secrecy.
• Never install remote-access software or share one-time passcodes at someone else's request.
• Check that an investment firm is authorised on the FCA Register and is not on the FCA Warning List.
• Train staff to recognise payment fraud, and require dual approval for new payees and large payments.

Stop, Challenge, Protect

If you are contacted out of the blue by phone, email, text or social media:

• Stop. Take a moment to think before parting with your money or information.
• Challenge. Could it be fake? It is fine to refuse or ignore any request. Only criminals will try to rush or panic you.
• Protect. Check with someone you trust, and contact the organisation directly using details you know are genuine. If you think you've been scammed, contact your bank immediately and report it to the police.

Forward scam texts to 7726 and suspicious emails to [email protected].

Where to get help