Case overview – Customer refunded following inadequate fraud protection from their bank

Michelle is the director of a firm selling construction materials which fell victim to Authorised Push Payment fraud. In this instance a member of staff was deceived into providing a scammer with the company’s banking details. This led to the fraudsters taking a significant amount of money from the company’s bank account.

Achieving resolution

The BBRS Case Assessor concluded that the pattern of transactions, which were high-value payments made to new payees in a short space of time, ought to have been detected and blocked by the bank.

This case went through the BBRS’ adjudicative process, and Michelle’s complaint was upheld with neither side appealing the decision.

This resulted in the bank refunding Michelle’s firm the entire amount of money taken by the fraudsters.

On receiving the award Michelle said: “That was a really significant amount of money that we lost as a result of the Authorised Push Payment fraud. I am very relieved to have had our bank’s inadequate fraud prevention recognised and to have had the money refunded to us. It is a huge relief to be able to concentrate on our work now, and thanks to our BBRS Case Assessor for helping us reach this resolution.”

This testimonial is an account of a real customer experience with names and some details changed. Each case that reaches the BBRS is different and customer outcomes will vary.