What is APP Fraud?
APP means an ‘Authorised Push Payment’. This is the process when one person makes a financial payment from their bank account to another account, perhaps for a service or a product. The payment is being ‘pushed’ from their account to the receiver’s account. This has been ‘authorised’ by the sender (using online, mobile or telephone banking services) and has been completed as they intended. Note that this differs from a Direct Debit which is instead ‘pulled’ from a person’s bank account by the receiving party. APP Fraud is the process by which fraudsters have successfully tricked a person into making (or pushing) a payment to a fraudulent party. In cases like this, fraudsters will deliberately mislead the paying party into believing they are completing a genuine transaction for goods or services they require, for example, to a builder they have employed. The fraudsters may impersonate the builder and trick the person into pushing a payment to the fraudster’s account, rather than the builder’s legitimate account. This is regarded as PUSH PAYMENT FRAUD
Types of APP Fraud
APP means an ‘Authorised Push Payment’. This is the process when one person makes a financial payment from their bank account to another account, perhaps for a service or a product. The payment is being ‘pushed’ from their account to the receiver’s account. This has been ‘authorised’ by the sender (using online, mobile or telephone banking services) and has been completed as they intended. Note that this differs from a Direct Debit which is instead ‘pulled’ from a person’s bank account by the receiving party. APP Fraud is the process by which fraudsters have successfully tricked a person into making (or pushing) a payment to a fraudulent party. In cases like this, fraudsters will deliberately mislead the paying party into believing they are completing a genuine transaction for goods or services they require, for example, to a builder they have employed. The fraudsters may impersonate the builder and trick the person into pushing a payment to the fraudster’s account, rather than the builder’s legitimate account. This is regarded as PUSH PAYMENT FRAUD
