Scam & Fraud FAQ | SmartSend Finance

Frequently Asked Questions (FAQs) - Scams and Fraud

1. What is a scam or fraud?

A scam or fraud is a deceptive act intended to trick individuals into providing money, sensitive data, or access to accounts or systems. Scammers use manipulation, impersonation, or technical tools to defraud victims. These acts are criminal and can be reported

2. What is an Authorised Push Payment (APP) scam?

An APP scam is when a victim is tricked into sending money via bank transfer to a fraudster. Because the payment is authorised by the victim, it can be harder to recover. APP scams include impersonation, investment, romance, and invoice scams.

3. What are the common types of scams and what do they mean?

• Impersonation Scams: The scammer pretends to be from your bank, the police, or a government agency to trick you into transferring funds or revealing information.

• Investment Scams: Victims are promised high returns on false investments, often involving cryptocurrency or fake trading platforms.
• Romance Scams: A fraudster builds a fake romantic relationship to gain the victim’s trust and then requests money
• Purchase Scams: You pay for goods or services online that never arrive or are counterfeit.
• Invoice Scams: Common in businesses, where a scammer changes payment details on a legitimate invoice.
• Business Email Compromise: A scammer hacks or spoofs a business email account to redirect payments.
• Lottery/Prize Scams: You are told you have won a prize and need to pay a fee to claim it.
• Phishing Scams: Fake emails, texts or websites that trick you into giving personal or financial info.

4. How can I tell if something is a scam?

Watch for urgency, secrecy, poor grammar, suspicious links, unknown senders, or requests for strange payment methods (like gift cards or crypto). Legitimate organisations will never pressure you or ask for personal info in insecure ways.

5. What should I do if I think I’ve been scammed?

Stop contact immediately and report it. Contact us, and also report to your country’s fraud agency:

• UK – Action Fraud: www.actionfraud.police.uk | 0300 123 2040
• US – FTC: www.reportfraud.ftc.gov | IC3: www.ic3.gov
• Canada – CAFC: www.antifraudcentre-centreantifraude.ca | 1-888-495-8501
• Nigeria – EFCC: www.efccnigeria.org | NFIU: https://www.nfiu.gov.ng/ | Nigerian Police https://www.npf.gov.ng/

6. Can I get my money back if I’ve been scammed?

n the UK, victims of APP scams may be entitled to reimbursement under the PSR rules. In the US, Canada, and Nigeria, reimbursement depends on the institution’s policy and local regulations.

7. How long does it take to resolve a scam report?

We aim to acknowledge reports within 24 hours and resolve UK scam cases within 5–15 business days. International cases may take longer depending on cooperation with banks and regulators.

8. What if my reimbursement claim is denied?

We will explain the reason and you can appeal. In the UK, you can escalate to the Financial Ombudsman. In other regions, contact your local consumer agency or financial regulator.

9. How can I protect myself from scams?

• Verify contact details independently
• Don’t click on unknown links
• Enable two-factor authentication
• Use strong passwords.
• Avoid urgent or too-good-to-be-true offers.
• Stay educated about new scams.

10. What should I do if I receive a suspicious message or call?

Don’t respond or click any links.
Report:
• UK – Forward texts to 7726 or email phishing to report@phishing.gov.uk
• US – Report to FTC and IC3
• Canada – Report to CAFC
• Nigeria – Report to EFCC or your local police

11. Is your company doing anything to protect customers?

Yes. We use transaction monitoring, identity verification (KYC), strong authentication, fraud detection systems, and ongoing staff training to protect customers.

12. Where can I get more help and advice?

• UK – www.takefive-stopfraud.org.uk | www.financial-ombudsman.org.uk
• US – www.consumerfinance.gov | www.ftc.gov
• Canada – www.antifraudcentre-centreantifraude.ca
• Nigeria – www.efccnigeria.org | NFIU: https://www.nfiu.gov.ng/ | Nigerian Police https://www.npf.gov.ng/

13. Can I prevent fraud on my business account?

Yes. Use secure email systems, verify invoices, apply dual control for payments, and regularly train staff on fraud awareness.

14. How do I know if I’m vulnerable to scams?

Scammers target everyone but especially those under emotional distress, elderly individuals, or those unfamiliar with digital platforms. Always be cautious, regardless of age or background.