Banking Fraud

Banking Fraud

At Watson Woodhouse, we understand the devastation and disruption that banking fraud can cause. Our team specialise in providing comprehensive legal services to victims of banking fraud, offering support and guidance throughout the process of seeking justice.

Free Initial Discussion

For a no-obligation discussion, call our specialist fraud solicitors today on 01642 247656 or use our contact form and we will call you back.

What is Banking Fraud?

Banking fraud is any illegal activity or deception committed with the intent to obtain sensitive financial information through fraudulent means. Banking fraud can result in significant financial losses for individuals and businesses as well as damage to their reputation and trust in the banking system.

What Are the Types of Banking Fraud?

Identity Theft: Fraudsters steal personal information to commit financial fraud, such as opening new credit accounts, applying for loans, and making purchases.

Mobile/Online Banking Scams: Fraudsters target victims who use mobile and online banking services to access their bank accounts and make transactions for financial gain.

Mortgage Fraud: Fraudsters use deceptive practices related to obtaining or processing mortgage loans. This type of fraud can occur at various stages of the mortgage application and approval process.

Investment Fraud: Fraudsters use deceptive practices to entice investors into various schemes or ventures with promises of high returns but with the intention to misuse the funds for personal gain.

Fraudulent Loan Applications: Fraudsters submit information to obtain a loan from a financial institution in their victims’ names.

ATM Skimming: Fraudsters install devices on ATMs to capture card information and PINs, allowing fraudsters to create counterfeit cards.

Cheque Fraud: Fraudsters forge or alter cheques to withdraw funds from victims’ accounts.

How Do I Know If I Have Been a Victim of Banking Fraud?

If you suspect you may have been a victim of banking fraud, there are various signs to look out for:

  • Unauthorised Transactions: Review your bank statements regularly for any transactions you don’t recognise or didn’t authorise. These could include withdrawals, purchases, or transfers that you didn’t initiate.
  • Missing Funds: If you notice unexpected or unexplained reductions in your account balance, it could be a sign that funds have been stolen or misappropriated.
  • Suspicious Activity: Be wary of any unusual or suspicious activity related to your account, such as receiving unexpected emails or messages requesting personal or financial information, or changes to your account settings that you didn’t authorise.
  • Phishing Attempts: Be cautious of unsolicited emails, phone calls, or text messages that request sensitive information or prompt you to click on links or download attachments.
  • Unexpected Credit Inquiries: Monitor your credit report for any unauthorised inquiries or new accounts opened in your name, as this could indicate that someone has fraudulently applied for credit using your identity.

What Should I Do If I Am a Victim of Banking Fraud?

If you suspect you’ve been a victim of banking fraud, it’s important to act quickly:

  1. Instructing a Solicitor on Your Behalf: Reach out to Watson Woodhouse as soon as possible to discuss your situation. Our experienced team specialises in handling banking fraud cases and can provide tailored legal advice to help you navigate the situation effectively.
  2. Contact Your Bank: Notify your bank or financial institution as soon as possible. Use the contact information provided on your bank’s official website or the back of your debit/credit card.
  3. File a Police Report: Report the fraud to your local law enforcement. Provide them with detailed information about the fraudulent activities and any evidence you may have.

Do I have to pay for legal representation?

Providing the person responsible for the fraud can be traced, then the costs will either be recouped from them, or paid from a central fund. You will be represented by an experienced fraud prosecution lawyer who will advise you along the way about your options and chances of success. We will criminally prosecute the individual responsible and aim to have your funds reimbursed and compensated.

Contact Us Today

Call us for a FREE and confidential consultation with a specialist solicitor today on 01642 247656. Alternatively, complete our online contact form, and one of our solicitors will be in touch.

Watson Woodhouse Solicitors provides support to clients throughout England and Wales.

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Contacting Us

01642 247656 24 Hour Arrest Helpline 01642 917175

Head Office

102-108 Borough Road
United Kingdom

Company Registration Number: 10868114 VAT Number: 499 468 172

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