Scam victims to be repaid from frozen criminal accounts as Government indicates crackdown on fake online ads — Scam Guards

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Scam victims could be reimbursed money lost to fraudsters using suspected criminal funds taken from “frozen” bank accounts under new plans announced by the Government.

In an update on economic crime, the Home Office also revealed a formal consultation on digital advertising standards will take place this year, with tougher regulations to clamp down on scam ads online on the cards by December.

The number of people falling foul of scams in the UK has rocketed in the past year, with fraudsters posing as NHS volunteers, home improvers, banks, credit card companies and even online daters to extract money from unwitting victims.

In 2020 police recorded more than 73,000 successful money grabs by fraudsters taking customer funds from their banks online without authorisation, costing upwards of £197m.

A further 150,000 authorised push payment scams were successful last…

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