Recognising Fraud | Spot Scams & Get Support

Types of fraud

The table below outlines the different types of fraud that could occur, and what they involve.

Type of fraud	What it is
Identity fraud	Someone steals your personal details (such as your name, date of birth, address or bank details) and uses them to apply for loans or credit in your name.
Account takeover	A fraudster gets into your existing online account, often using stolen passwords or codes. They may then change your contact details, take out new borrowing or redirect money.
Loan fee fraud (advance fee fraud)	You’re offered a loan, often “guaranteed” or “no credit checks”, but asked to pay a fee upfront for admin, insurance or “processing”. Once you pay, the loan never arrives. Genuine lenders don’t ask for payment before a loan is paid out.
Clone firm fraud	Criminals pretend to be a real, authorised lender or broker. They copy its name, logo, address or FCA reference number to look genuine. Always check the FCA Register and only contact a firm using the details listed there.
Impersonation scams (phishing, smishing and vishing)	You get an email, text or phone call that seems to come from a lender, your bank, HMRC or the police. It asks for personal details, passwords or one-time passcodes, or tells you to click a link. Genuine organisations will never ask for your full password or a one-time passcode.
Authorised push payment (APP) scams	A fraudster tricks you into sending money from your own account, for example by saying your account is “at risk” or posing as a trusted contact. They then ask you to move funds to a “safe account”.
Fake debt collection scams	Someone contacts you claiming you owe money on a loan you don’t recognise. They threaten legal action or bailiffs unless you pay straight away. Always check with the lender directly before paying anything.
Money muling	You’re asked to let money pass through your bank account in return for a cut, often presented as an easy job or a favour. The money is usually stolen, and money muling is a crime that can lead to prosecution and a closed bank account.
Romance and friendship scams	Someone builds a relationship with you, often online, and then asks for money or asks you to take out a loan for them. Their reasons are usually emergencies, travel costs or business opportunities.
Being pressured into borrowing	Someone you know pressures, controls or forces you into taking out a loan they will use. This can be a form of financial abuse. Lenders can offer support if this is happening to you.
Fake comparison or broker websites	Websites that look like loan comparison or broker sites but exist to collect your personal and financial details. Fraudsters then use or sell those details.
SIM swap fraud	A fraudster persuades your mobile provider to move your number to a SIM card they control. They can then receive your security codes and get into your accounts.
Recovery scams	After you’ve been scammed, someone contacts you offering to get your money back for a fee. They are often the same criminals or working with them.
Giving false information on an application	Knowingly giving incorrect details on a loan application, such as inflating your income or hiding your outgoings, is also fraud. It can lead to your details being recorded on fraud prevention databases.

Indicators of fraud

Fraudsters often use the same tactics. If you notice any of the signs below, stop and check before you share information, make a payment or sign up for anything.

Someone may be using your identity if

You get letters, emails or texts about a loan or credit account you didn’t apply for
Money arrives in your bank account that you weren’t expecting, or payments leave it that you don’t recognise
You’re contacted about missed payments or debts that aren’t yours
Your credit report shows searches, accounts or addresses you don’t recognise
Your credit application is turned down unexpectedly, or your credit score drops for no clear reason
You stop getting post you would normally expect, such as bank statements
You can’t log in to your accounts, or you’re told your password or contact details have been changed
Your phone suddenly loses signal and can’t make calls or send texts, which can be a sign of SIM swap fraud

A call, email or text may be a scam if

It asks for your password, PIN, full card details or a one-time passcode
It pressures you to act immediately, for example “your account will be closed today” or “you’ll be taken to court”
It asks you to move money to a “safe account” or to keep the conversation secret from your bank or family
It comes from a personal email address, or from an email address or website that’s slightly different from the real one
It contains links or attachments you weren’t expecting
It has spelling or grammar mistakes, or doesn’t use your name
The caller asks you to download software or give them remote access to your device
The caller gets defensive or aggressive when you say you want to hang up and call back

A loan offer may not be genuine if

You’re asked to pay a fee before you receive the loan
The loan is “guaranteed” or offered with “no credit checks”
You’re contacted out of the blue with a loan offer you didn’t ask for
You’re asked to pay by bank transfer, gift cards, vouchers or cryptocurrency
The firm isn’t on the FCA Register, or the contact details it gives you don’t match the Register
The offer seems too good to be true, such as an interest rate far below what other lenders offer

Someone may be trying to involve you in fraud if

Someone offers you money to receive and pass on payments through your bank account
A job advert offers easy money for “processing payments” or working as a “money transfer agent”
Someone you’ve met online, but never in person, asks you for money or asks you to take out a loan for them
Someone pressures or controls you into borrowing money they will use
Someone asks you to give false information on a loan application, or offers to fill it in for you

What to do if you have identified fraud

Report to Law Enforcement

Contact Report Fraud (0300 123 2040) or Police Scotland on 101 if you live in Scotland, to report your case and get specialised support. These are the UKs contacts for national reporting of fraud and cybercrime.

Cifas

Consider registering for Cifas Protective Registration, which places a warning flag against your name on the National Fraud Database, which organisations will see if any applications are made under your name.

This currently costs £30 to apply, and will last for 24 months.

It doesn’t stop every application being checked and isn’t a substitute for monitoring your own credit file, but it’s a widely used extra layer of protection.

Credit Reference Agencies

You can contact the three CRAs- Experian, Equifax and Transunion – to review your credit file and to add a Notice of Correction, or dispute any entries you do not recognise. You would also be able to sign up for credit report monitoring if you do not already have this.

Equifax Experian TransUnion

Contact us

If you have identified a loan with Monixa that is in your name, but was not taken out by you, contact us straight away on:

Email: info@monixa.co.uk
Phone: 0330 027 0685
Livechat: Bottom right of the screen

We will raise your report to our fraud team who will conduct an investigation. Have any reference numbers, letters or correspondence to hand if you can, as you will be asked to send these via email to support our investigation.

Suspicious contact claiming to be from Monixa

If you’ve received a call, text, email, letter or seen a website claiming to be Monixa that you’re unsure about, even if you’re not a customer of ours, please let us know at info@monixa.co.uk or 0330 027 0685 so we can investigate and warn other customers if needed.

You can find further information about this type of fraud here.

Please also report it to Report Fraud, and you can flag it to the FCA via ScamSmart.

How we handle reports of fraud

Once you tell us you think you’ve been a victim of fraud, or that an agreement in your name isn’t genuine, here’s what happens:

We will note your report on the account in your name, which will pause any collections activity, including contact about repayments
Our fraud team will record your report and open an investigation into the account, and will contact you via email to collect further information and request supporting documents
If we confirm the agreement was fraudulent, you won’t be held liable for it. We’ll close the account, remove any related adverse information we’ve reported to credit reference agencies, and correct our own records.

We’ll keep you updated and aim to confirm the outcome of our investigation within 1 month. If it’s going to take longer, we’ll tell you why and when to expect an update.

What to do if you are not happy with the outcome

If you disagree with the outcome of our investigation, or you’re unhappy with how your report was handled, you can raise a formal complaint with us. Further details about our complaints process can be found here - MONIXA | File a complaint

Email complaints@monixa.co.uk

We’ll acknowledge your complaint and investigate it fairly.
We aim to send you a final response in writing within 8 weeks of receiving your complaint.
If you’re not satisfied with our final response, or if 8 weeks pass without one, you can refer your complaint free of charge to the Financial Ombudsman Service (0800 023 4567), normally within 6 months of the date of our final response. The Ombudsman is an independent, free service for resolving disputes between consumers and financial businesses.

What we will never do

Ask you to pay a fee before your loan is paid out
Ask for your full online password, PIN or a one-time passcode by phone, email or text
Ask you to move money to another account for “safekeeping”
Ask you to download software that gives us access to your device
Pressure you to make a decision or a payment on the spot