Good to know: We are a Claims Management Company (CMC). You do not need to use a CMC to make your complaint to your bank. If your complaint is not successful you can refer it to the Financial Ombudsman Service for free.

0345 544 1563

Hybrid Scams: The New Era of Sophisticated Frauds

Intro

Scamming has long been a pernicious problem plaguing individuals and businesses alike. But with the advent of technology and digital currencies, the face of fraud has dramatically changed. It has become more sophisticated, deceptive, and potentially destructive. Hybrid scams are leading this transformation, with elements of investment fraud, cryptocurrency trickery, and various other scams intricately interwoven.

The Rise of Hybrid Scams

The onset of hybrid scams is a recent phenomenon that has gained momentum in the digital era. These scams cleverly amalgamate aspects of diverse fraudulent activities, designed with the explicit intention to bypass contemporary security protocols and capitalise on the digital vulnerabilities of individuals. The modus operandi of such scams is versatile, leveraging platforms such as dating applications, e-commerce sites, and personal emails. The emergence and growth of hybrid scams have contributed to the increasing complexity of the cyber fraud domain, presenting a challenging menace in the ever-evolving digital world.

How Hybrid Scams Work

Unlike traditional scams, hybrid frauds are characteristically multi-dimensional and bespoke to their victims. Scammers often commence contact with unsuspecting individuals through non-threatening platforms such as dating apps or social networking sites. Utilising various manipulative techniques, they gradually establish a relationship of trust with the victim. Following this, they weave in elements of investment fraud or online purchase swindles, convincing the victim to part with their hard-earned money. In certain scenarios, they might even coerce the victim into moving their funds to a so-called ‘safe account’, an alleged protective measure against other fraudsters. The diversity and adaptability of hybrid scams make them exceptionally challenging to detect and prevent.

The Role of Cryptocurrency in Hybrid Scams

The surge in popularity of digital currencies has not gone unnoticed by scammers. Exploiting the semi-anonymous nature and traceability challenges of these digital assets, fraudsters integrate cryptocurrency scams into their hybrid schemes. Victims might be enticed into investing in counterfeit cryptocurrency ventures, or duped into transferring their funds into a ‘safe wallet’, under the pretence of security against potential fraud. These so-called ‘safe wallets’ are usually under the scammer’s control. The complication of tracking and retrieving cryptocurrency once moved renders these scams exceptionally destructive and further contributes to the multifaceted nature of hybrid scams. Therefore, being aware of the risks associated with digital currencies and exercising due diligence can be vital in preventing such fraudulent activities.

The Prevalence of Romance Scams

Romance scams have become alarmingly rampant within the broad spectrum of hybrid scams. In these insidious schemes, fraudsters cunningly fabricate online personas on dating platforms or social media to initiate romantic relationships with innocent victims. Once a level of trust and emotional bond is established, victims are manipulated into investing in a fictitious venture or providing funds for a fabricated crisis. The transactions often take place via a cryptocurrency transfer, exploiting the anonymity and non-traceability associated with digital currencies. The calculated intersection of emotional manipulation and financial deceit in these scams makes them particularly heart-wrenching and problematic to tackle.

How to Protect Yourself from Hybrid Scams

The escalating complexity of hybrid scams necessitates a robust defensive strategy. One must adopt a sceptical approach towards offers that appear overly lucrative. Be wary of disclosing personal or financial details in digital domains. Prior to committing to substantial financial transactions or investments, particularly where cryptocurrencies are involved, seek advice from trusted professionals. Regular updates to your cyber-security measures are vital. Employ an array of secure, distinct passwords and incorporate two-factor authentication whenever feasible. It is crucial to not become complacent; staying vigilant can help to keep these fraudulent practices at bay.

The Future of Hybrid Scams

Unfortunately, the continued evolution and increasing sophistication of hybrid scams indicate that they are unlikely to disappear soon. As digital technology advances, these scams are likely to mature in tandem, employing innovative platforms, cutting-edge technologies, and novel tactics to beguile their victims. However, we can significantly curtail the risk of succumbing to these frauds through education and remaining alert. It’s crucial to propagate information, report any suspicions promptly, and collectively strive to counter the menace of hybrid scams in the digitised era. Remember, knowledge is power, and a cooperative approach is our best line of defence against these advanced scams.

Start Your Claim Now

Progress

Please tell us which bank you lost your money from? (this must be a UK account in your name)

What was the amount of the highest single transaction paid to the scammer?

Your total monetary loss from the scam?

Where did you get the money, which was then lost to the scammer? (Pick the statement which best fits)

Have you managed to recover any of your money?

How much have you recovered?

How did you transfer money from your Bank to the scammer?

When did you make the first payment to the scammer?

When did you make the final payment to the scammer?

Were you known by a different name with Bank?

Did you register with Bank at a different address?*

Please provide the name of the scammer:

Did you send money to someone else, like a cryptocurrency or stock exchange, before it went to the scammer?

Pick the description which most closely applies to the scam you suffered from:

Pick the closest description as to why you made payments to the scammer:

How did you realise you had been scammed?

Roughly, when did you suspect you had been scammed

Please tell us what you can about…:

  • The scam – what exactly happened and how you then discovered it was a scam…
  • What Bank did – did they warn you about scams? What could Bank have done better?
  • Actions you’ve taken – have you tried to recover your losses from this scam from any other company? If so, please give details of who and when.

Title

Full First Name*

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Last Name*

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Email*

Date Of Birth*

Mobile Number

Landline Number


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Are you subject to or have you ever been subject to an Individual Voluntary Arrangement (IVA), or have you proposed an IVA yet to be approved or rejected by creditors?*

Have you ever been declared bankrupt or are you subject to a bankruptcy petition, or are you currently or have you ever been subject to a debt relief order? Do you have an adverse County Court Debt Judgement?*

Are you subject to any other process similar to the above, including but not limited to sequestration, but not including a debt management plan?*

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Andy Ramsay, Fraud and Scam Claims Manager

With over 40 years of experience spanning both financial services and legal services, Andy has been tirelessly dedicated to providing access to justice for people in need. His diligent work ethic is a testament to his unwavering commitment to his clients. Andy is ready and eager to assist with any claim you may have.

Questions about our Scam Reimbursement Claims Service…

Click below to see answers to common queries.

How do I check that Allegiant is not a scam company?

It is important before engaging the services of a company or person offering to help you recover lost money through fraud that they are legally authorised to do so. Allegiant Finance Services Limited is a Claims Management Company that is Authorised and Regulated by the Financial Conduct Authority. Firm Reference Number: 836810.

You can check our credentials on the Financial Conduct’s Authority’s Financial Services Register. The register lists all the firms authorised to conduct regulated financial services activities which includes Claims Management Services. You can find the Financial Service Register by entering “FCA register” on your internet browser.

We’re a UK based business operating from 400 Chadwick House, Warrington Road, Birchwood Park, Cheshire WA3 6AE. We were founded in 2010. You can check by typing in “Companies House Search” into your internet browser and searching for “Allegiant Finance Services”.

You can also check independent review sites like Trustpilot and Google Reviews.

Yes, our service is chargeable but only where you receive compensation.

You do not need to use a claims management company to make your complaint to your bank. If your complaint is not successful you can refer it to the Financial Ombudsman Service for free.

If you choose to use our service our fees are owed upon a successful claim and are a percentage of the amount recovered.

We do not charge upfront fees, and if your claim is unsuccessful there is no charge. You can cancel your claim for free at any point unless an offer has been made, at which point our success fee will apply.

We can help you with all sorts of fraud claims including bank transfer fraud (authorised push fraud), safe account, impersonation investment romance, purchase and invoice scams.

If you believe that you have been a victim of a fraud scam, contact us to find out more about what this involves. If you are not sure if you have a claim, we can find this out for you.

Yes – because you may not actually have been at fault, or because your bank may also have been at fault! 1 in 2 claims are unfairly rejected by the banks. Based on our experience and expertise we present a claim based on the relevant rules, codes and best practice standards to see if the bank shouldn’t have taken your instructions at “face value” or considered the wider circumstances surrounding the transaction, before making the payment.

You can start a claim by entering your details here. The more information you provide, the more likely we can make a quick decision on whether we can take your case on.

By filling in the claim form you’re not committing to using our service, and if you change your mind we’ll not take your case forward or contact you again.

If we decide to take on your case, we’ll let you know and at that point, you’ll be sent a copy of our contract with other documentation via email. You’re only committing to our service once you sign and return the contract.

It is very difficult for us to place a timescale on the claims process. Much will depend upon whether your bank agrees to your claim, or whether they defend it. If your bank agrees to your claim following the submission of our Letter of Complaint, we would expect the compensation offer to be received within approximately 8 to 12 weeks.

If the claim needs to be referred to the Financial Ombudsman Service, this may add 6 to 24 months to the claim (depending on the Financial Ombudsman Services’ capacity and what arguments the bank has made in defence). In cases where there is severe and immediate hardship, the Ombudsman may be able to fast-track your claim. If this applies to you, please tell us.

Please notify us immediately so that we can give you guidance on whether the offer is fair. Our fees are due whether the bank sends the offer to you or us, so there is no benefit in not seeking our guidance where an offer is received.

Yes! Subject to the bank account being a UK bank account, you are able to claim. This includes UK bank accounts where money was withdrawn in connection with the fraud.

Our Fraud & Scam Claims Process

We realise that claiming against a bank may feel daunting. We aim to make the claiming process as simple as possible. We specialise in affordability claims. Our experienced team will communicate with the lender (and where required, the Ombudsman service) on your behalf. We use bespoke technology to ensure efficient claims handling. Throughout the process, we inform you of claim progress using a “stage process”, so you can track your progress easily. Please remember though, that you do not need to use a claims management company to make your complaint to your lender, and if your complaint is not successful you can refer it to the Financial Ombudsman Service yourself for free.

  • Step 1

    Pre complaint investigation and analysis

  • Step 2

    Formal complaint made, where appropriate.

  • Step 3

    Bank responds with a Final Response Letter

  • Step 4

    If an appropriate outcome cannot be reached, referral to Financial Ombudsman Service.

Our Fees - What You Need To Know

Our success fee is due only if your bank makes a compensation payout, and is calculated on the amount of the compensation payout

The success fee amount is calculated using a band charging system. There are five charging bands. Each band has a maximum amount that we will charge.

Success Fee Charging Table

Band Compensation Payout Percentage rate the Success Fee is calculated on  (including VAT) Maximum Success Fee in band (including VAT)
1 £1 to £1,499 36% £504
2 £1,500 to £9,999 33.60% £3,000
3 £10,000 to £24,999 30% £6,000
4 £25,000 to £49,999 24% £,9000
5 £50,000 or more 18% £12,000

Below are examples of how this would work in practice.

Lower example Higher example
Band Compensation Payout Success Fee Compensation Payout Success Fee
1 £100 £36 £1,499  £504
2 £1,600 £537.60 £9,999  £3,000
3 £12,000 £3,600 £24,999 £6,000
4 £30,350  £7,284 £49,999  £9,000
5 £55,000  £9,900 £100,000  £12,000

If you want to see how much we would charge for a specific amount, please visit our online fee calculator at https://allegiant.co.uk/fraud-and-scam-claim-fees/.

Please note that the examples in the tables are for illustration purposes only. They are not an estimate of the likely outcome or success fee.

Cancellation Rights

You can cancel for free at any time within 14-days without giving any reason and without incurring any liability. You can communicate your cancellation by telephone, post, email or online.

You can cancel this agreement at any time after the 14-day cancellation period. However, if a complaint submitted by us is successful, the Success Fee will apply in the usual way.

You can cancel by post: Allegiant Finance Services Limited, Freepost RTYU–XUTZ–YKJC, 400 Chadwick House, Warrington Road, Birchwood Park, Warrington, WA3 6AE; (b) by email: helpdesk@allegiant-finance.co.uk; (c) by telephone: 0345 544 1563; or (d) online at HERE.

A Claims Management Company You Can Trust.

A Safe Choice For Scam, Sham and Fraud Claims.

A trusted name

Allegiant Finance Services was founded in 2010 and has helped over 100,000 customers reclaim over £80,000 across all claim types.

Friendly and understanding advisors

Fraud and scam claims can be traumatic. We’re here to support clients through their quest for re-imbursement.

Confidential & Discreet

We will only correspond with you and keep your details secure. We’ll never sell your data

Online Application System

Fill in our form and our advisors will review whether you are eligible for our service.

Claiming for Free Yourself

Good to know: We are a Claims Management Company (CMC). You do not need to use a CMC to make your complaint to your bank. If your complaint is not successful you can refer it to the Financial Ombudsman Service for free.