Frequently asked questions, tips and advice about suspected fraudulent transactions on your Funding Circle business credit card.
While you may be savvy to some of the tactics used by fraudsters, they are smarter and more innovative than ever. That’s why it’s crucial to stay alert to possible scams when making business payments - whether by card or cash transfer
To help keep you safe, we’ve rounded up some of the most creative ploys used by fraudsters and tips on avoiding them.
Phishing - the fraudster poses as a legitimate customer or business and tricks you via email into sending them money or sharing sensitive information such as credit card numbers or bank details. They may also do it by phone or text, known as Vishing (Voice Phishing) or Smishing (SMS phishing) respectively.
Invoice fraud - the fraudster poses as a supplier or contact and sends a fake bill or invoice requesting urgent payment. They may ask for a new transaction to be set up or for existing payment details to be changed. The fraud is often only discovered when the real company chases the outstanding amount.
Business email compromise - the fraudster gains access to a supplier or client's email account, pose as a trusted contact and deceive you into transferring funds into a fraudulent bank account or sharing sensitive information.
Purchase scams - the fraudster lists fake or non-existent items for sale on social media and websites. Their adverts look genuine, and someone you know could share or repost one without realising it’s a scam.
Safe account scams - the fraudster contacts you by phone, claiming to be from your bank and saying your account has been compromised. They then encourage you to transfer your money into a ‘safe account’ they control.
STOP and think before sending money or information
CHALLENGE any requests you’re not comfortable with. It’s ok to say no.
PROTECT yourself by contacting your payment company immediately and report it to Action Fraud.
If you still have questions about scams, drop us a message and one of our team will be able to get back to you.
If you suspect fraudulent activity on your account, please call our Operations team on 0203 308 9693 as soon as possible for assistance.
Our operating hours are Monday to Thursday 9am to 6pm and Friday 9am to 4:30pm.
For more tips and advice visit the Take Five to Stop Fraud website by clicking here
An Authorised Push Payment (APP) scam occurs when a fraudster tricks a person into transferring money to them, often by posing as a legitimate business or individual.
The APP Scam Reimbursement Scheme has been introduced to protect UK consumers who fall victim to these scams, while encouraging businesses and customers to be vigilant against fraud. Here's what you get under the new scheme:
1 - Right to Reimbursement: Consumers who have been scammed through an APP fraud are generally entitled to a refund from their payment service provider (PSP), provided they took appropriate care in making the payment.
2 - Responsibility of Payment Companies: Payment service providers must assess whether the consumer took reasonable steps to check the legitimacy of the payment. If the consumer acted appropriately, the payment service provider should offer a refund.
3 - Timely Response: Payment service providers are required to respond quickly to reports of APP scams and must handle claims for reimbursement fairly and promptly.
4 - Consumer Obligations: Consumers are expected to follow the payment service providers advice to avoid fraud, such as checking for warnings about potential scams during the payment process.
5 - Exclusions: Reimbursement may be denied if the consumer was grossly negligent or ignored clear warnings about potential fraud.
If you fall victim to an APP scam, there are steps you should take to help us effectively assess your claim and determine your eligibility for reimbursement.
Please report the scam to us as soon as possible. Prompt reporting is crucial for both the potential recovery of your funds and the claim process. If you suspect fraudulent activity on your account, please call our Operations team on 0203 308 9693 as soon as possible for assistance. Our operating hours are Monday to Thursday 9am to 6pm and Friday 9am to 4:30pm.
You will need to provide us with all relevant details about the scam, including how you were deceived, the amount transferred, and any communications you had with the scammer.
It’s important that you cooperate with us during the investigation. This may include providing additional documentation as requested and reporting the crime to the police.
When making your claim, you must show that you took reasonable steps to verify the legitimacy of the payment. This includes following any warnings or advice given during the payment process.
Please stay in touch with us to monitor the progress of your claim and provide any further information as needed.
Additional questions on FlexiPay
If you still have more questions on FlexiPay, please visit our additional FAQs page below.
Additional FlexiPay FAQsMore information about support with payments
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