What are the most common types of fraud affecting UK businesses?

UK businesses, particularly small and medium-sized enterprises, are increasingly targeted by fraudsters. Understanding the most common types of fraud can help you spot warning signs early and protect your business.

Authorised Push Payment (APP) fraud

This happens when a business is tricked into sending money to a fraudster’s account. The payment is authorised by the business, often under false pretences, such as:

Fake supplier invoices
Requests to urgently change bank details
Impersonation of company directors or trusted partners

Once the payment is sent, it can be difficult to recover.

Phishing and impersonation scams

Fraudsters pose as legitimate organisations (such as banks, payment providers, or HMRC) and contact businesses by email, SMS, or phone to steal login details or payment information.

These messages often:

Create a sense of urgency
Ask you to “verify” or “secure” your account
Contain suspicious links or attachments

Invoice and payment redirection fraud

A fraudster intercepts or imitates genuine supplier communications and requests payment to a new bank account. These scams are particularly convincing and often involve real invoice details.

Chargeback fraud

This happens when a customer disputes a legitimate transaction, claiming it was unauthorised or that goods were not received, even though they were. Chargeback fraud can result in lost revenue and additional fees for businesses.

How to reduce your risk

Always verify changes to payment details using a trusted contact method
Train staff to recognise common scam tactics
Review transactions regularly
Limit access to payment systems where possible

If you feel you are at risk of fraud or have been a victim, please contact us on 0800 917 9206 or by email at support@myzeller.com