Muloot Money is a trading name of Aspire Payments Limited. Aspire Payments Limited is a company registered in England, under the company registration number 09609407. Its registered address is 24 Nicholas Street, Chester, England, CH1 2AU. Aspire Payments Limited is registered with the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money, with Firm Reference Number: 900883. Muloot is a registered trade mark of Aspire Commerce Group Limited.
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Fraud and scams
Below we’ve outlined some of the types of fraud and scams you should look out for, as well as simple tips on how to protect yourself. And in the unfortunate event that you do fall victim to a fraud or scam, we’ve laid out what to do and who to contact.
Some of the common ways criminals trick people into making scam payments are:
Authorised push payment (APP) fraud - the criminals choice!
APP fraud is when you get tricked into making a faster payment (or bank transfer) directly to another account, and all of the above scams typically involve the criminal asking you to make a faster payment. This type of fraud has increased dramatically in recent years because criminals know that the money moves from your account to theirs in seconds. So within minutes of you making the transfer your payment has been withdrawn, and it’s unlikely you’re going to get it back.
Tips to protect yourself from fraud and scams
Remember, this isn’t an exhaustive list, and vigilance is needed at all times. Just because something isn’t on this list doesn’t mean it can’t happen, so if you have doubts, don’t make the payment.
What to do if you know or suspect fraud has happened
How to report any fraudulent activity or transactions to Muloot Money: