Authorised Push Payment (APP) Fraud Reimbursement Policy & Your Rights

APP fraud occurs when a client is tricked into authorising a payment to an account controlled by a fraudster. The APP Fraud Reimbursement Policy is designed to offer protection and, where eligible, reimbursement in cases where fraudsters have defrauded you of your money via an authorised push payment fraud.

Examples of APP fraud

• Romance scams where victims are persuaded to send money to criminals by gaining their trust and convincing them that they are in a genuine relationship, manipulating their emotions

• Investment scams inducing people to “invest” into assets or schemes that are worthless or do not exist, usually offering exceptional return, sometimes with a condition to not speak about it or with time pressure to invest.  

• Impersonation of the police or regulators (such as the FCA) to convince clients to liquidate their portfolio and move their funds to another institution (usually abroad) to safeguard them, sometimes with the argument that their account or their bank or wealth manager is compromised by fraud.

Scope of the policy

• The reimbursement requirement applies to individuals, microenterprises, and charities, where an APP scam payment is made using Faster Payments or CHAPS in the UK and sent to a relevant account in the UK.

• The requirement applies only to payments made on or after 7 October 2024, and the claim must be raised within 13 months of the final payment made to the fraudster as part of the scam.

• The maximum claim limit applicable to an APP fraud claim is £85,000 

Not in Scope of the policy

• The payment was made before 7 October 2024 and/or the claim submitted more than 13 months after the final payment to the fraudster

• International payments

• Payments not made on the Faster payments or CHAPS systems such as cheques, cash and other payment systems

• Payments made to an account the client controls or an unauthorised payment, i.e. where the instruction payment is not made by a duly authorised authority on the account.    

• Where payments are sent or received by credit unions, municipal banks, and national savings banks. 

Exclusions to the reimbursement requirement

There are exclusions where claims will not be honoured such as;

• Gross negligence is involved  
• Where there is a civil dispute  
• The claim is made fraudulently 

Every claim will be assessed on a case-by-case basis. 

Key requirements for you as a client

You should apply the Consumer Standard of Caution, which means that:

• Due diligence on payment: You are encouraged to remain vigilant and carry out appropriate checks before authorising payments. This includes verifying the identity of the recipient and ensuring legitimacy of the transaction.
• Immediate reporting of fraudulent activity: If you believe you have been a victim of APP fraud, you must get in touch with your usual Evelyn Partners contact as soon as possible.  Swift reporting increases the chances of recovering funds and ensures timely reimbursement, where applicable. You should also either report the scam to the police or give us your consent to report it to the police on your behalf.
• Cooperation with investigations: In the event of a reported fraud, you will be required to cooperate with investigations conducted by us, other financial institutions, and or law enforcement agencies. This may include providing evidence or details of the fraudulent transaction. 
• Vulnerable Clients: Where you are considered a vulnerable client, and your vulnerability has a material impact on your ability to protect yourself from the scam, the Consumer Standard of Caution does not apply, which means that the key requirements above do not apply. 

Your rights under the reimbursement policy

• Right to reimbursement: If you are a victim of APP fraud and meet the eligibility criteria, you may be entitled to full or partial reimbursement. We will review each case individually.
• Right to transparent investigation: Upon reporting an APP fraud case, we will conduct a transparent investigation into the circumstances of the fraudulent transaction. You will be kept informed throughout the process, including the outcome of our findings and your entitlement to reimbursement.
• Right to access support: We are committed to providing support and guidance to any client affected by APP fraud. If you believe you have been a victim of fraud, contact your usual Evelyn Partners contact immediately.
• Right to dispute resolution: If you disagree with the outcome of an APP fraud investigation, you have the right to challenge our decision through our formal dispute resolution process. We are also members of the Financial Ombudsman Service (FOS), which you can contact if your dispute is unresolved. 

We are committed to ensuring the safety and security of your payments and providing you with the support needed to recover from fraud-related incidents.