Dealing with the risk of fraud

Overview

There are many types of fraud, and criminals are constantly changing their tactics to find new ways to trick customers. Through the checks we do at LiX FX, we aim to do all we can to make sure that our customers are not victims of fraud. But customers need to be vigilant, so that they are not caught out. For more information on specific types of fraud, please refer to FCA ScamSmart web page – https://www.fca.org.uk/ . Or alternatively: MET Police – The Little Book of Big Scams

Authorised Push Payment Fraud

APP fraud occurs when a consumer is persuaded or tricked into authorising a GBP payment from their own account to the account of the fraudster, whether through being deceived as to the recipient of the payment, or as to the purpose for which they are transferring the funds.

For more information, please see: https://www.psr.org.uk/our-work/app-scams/

As a firm, we are sympathetic to all victims of fraud. However, LiX FX does not offer UK bank accounts to its clients. We offer a money remittance service only. As such, we believe it is unlikely that LiX FX will be inscope to the reimbursement requirements associated with APP fraud scams.

Reporting fraud

If you notice something suspicious when using our platform, and which may be fradulent, you can contact us at:

Generally, if you think you’ve uncovered a scam, been targeted by a scam or fallen victim to fraudsters, you should contact Action Fraud on 0300 123 2040 or https://www.actionfraud.police.uk/resources.