Authorised Push Payment (APP) Fraud (sometimes known as bank transfer fraud) a criminal tricks someone into sending money directly from their bank account to an account which the criminal controls.
In the legal sector, the most common target for this type of fraud is homemovers, where large amounts of money are being transferred between lawyers and their clients. Where the fraud relates to a property transaction, it is often referred to as Friday Afternoon Fraud.
A UK Finance report concluded that losses due to authorised push payment scams totalled £455.8 million in 2019. This was split between personal (£317.1 million) and non-personal or business (£138.7 million).