Scammers are increasingly tricking people into transferring money directly from their own account — and losses average over £2,300 per victim.
What is happening?
In a bank transfer scam, a criminal persuades you to send money directly from your bank account to theirs. They may pose as your bank, a solicitor, a builder, or even a family member in trouble. Because you authorise the payment yourself, it can feel like a genuine transaction — until it is too late.
Why does this scam work?
The request often comes with a convincing story and a sense of urgency — act now or lose your savings, your house purchase, or your loved one. The pressure is designed to stop you pausing to check.
Warning signs:
An unexpected call, text, or email asking you to move money urgently. Someone claiming your account is at risk and asking you to transfer funds to a safe account. A request to keep the transfer secret.
What to do:
Stop and verify before sending any money. Call the organisation back on a number you find yourself — not one provided in the message. Your bank will never ask you to move money to keep it safe. If you are pressured to act quickly or keep something secret, treat that as a warning sign. If you are a victim, contact your bank immediately — banks are now legally required to reimburse most victims of this type of fraud up to £85,000.
