Report Fraud or Suspicious Activity

If you suspect fraud or have identified any suspicious activity involving our services, it is important to report it to us immediately. We take fraud seriously and have a dedicated team to investigate and address such concerns promptly.

How to Report Fraud?

Reporting Fraud Outside Our Platform:

Once you have reported fraud to us, you may also report the incident to Action Fraud, the UK’s national fraud reporting centre. Visit www.actionfraud.police.uk or call 0300 123 2040.

Important Notes:

Fraud reporting is separate from general complaints. For other issues, please visit our Complaints Procedure page.

APP Fraud & Customer Protection Framework

1. Definition of APP Fraud

“Authorized Push Payment (APP) Fraud”, as defined under the UK Payment Services Regulations (UK PSRs), refers to a form of fraudulent conduct in which a perpetrator deceives an individual into authorizing a payment to an account controlled by the fraudster. Although the payer authorizes the transaction, such authorization is obtained through deception, thereby constituting fraud for regulatory and reimbursement purposes.

2. Consumer Standard of Caution

Under the APP Fraud Reimbursement Scheme, customers are required to adhere to the Consumer Standard of Caution. A Payment Service Provider (PSP) may decline a reimbursement claim if any of the requirements below are not met due to the customer's gross negligence, unless the customer qualifies as a vulnerable customer.

The Consumer Standard of Caution consists of the following four components:

1. Having regard to PSP interventions
2. Providing prompt notification of the fraud
3. Sharing accurate and relevant information
4. Reporting the matter to the police

Further details are available in the Payment Systems Regulator's official guidance: https://www.psr.org.uk/media/as3a0xan/sr1-consumer-standard-of-caution-guidance-dec-2023.pdf

3. APP Fraud Reimbursement Scheme – Customer Guidance

The APP Fraud Reimbursement Scheme, effective from 7 October 2024, applies to eligible GBP-denominated payments executed via the UK Faster Payments System (FPS). Under this framework, in-scope PSPs acting as the sending PSP are required to reimburse customers who fall victim to APP fraud, subject to the exclusions and conditions set out in the Scheme.

Financial House will reimburse eligible customers in accordance with the PSR's Mandatory APP Fraud Reimbursement requirement, including the Consumer Standard of Caution and any applicable exclusions. The obligation forms part of the customer's rights and will be reflected in Financial House's Terms and Conditions.

If you believe that you have been the victim of an APP fraud involving a payment processed by Financial House Limited, you must notify us immediately, and in any case within 13 months of the relevant payment.

To submit an APP fraud claim, please complete the APP Fraud Claim Form and forward it to: fraud@financialhouse.io

Upon receipt of the claim and all required documentation, Financial House will conduct an assessment and may request additional information where necessary. As a PSP registered with Pay.UK, Financial House retains the ultimate responsibility for determining the outcome of APP fraud reimbursement claims.

Pursuant to the Scheme:

• Reimbursement must be issued within 5 business days, or
• Within 35 business days where extended investigation is required (including requests for evidence from the receiving PSP).

The Scheme does not apply to:

• International payments,
• Payments executed outside the FPS scheme,
• Payments made for unlawful purposes, or
• Transactions that fall within civil disputes (e.g., non-delivery of goods/services from a legitimate merchant).

You are strongly encouraged to report the incident to Action Fraud UK: https://www.actionfraud.police.uk/ and include your Action Fraud reference number within your Claim Form.

Full cooperation is required throughout the investigation process. Delays in providing requested information may hinder or prevent the assessment of your claim.