Charity helps recover £1m for fraud victims
Getty ImagesA charity has helped recover £1m for fraud victims amid calls for greater protections nationally against financial crime.
The Financial Fraud Advocates (FFA) service has been working with people across Teesside who have been targeted by fraudsters, helping collect evidence and pursue complaints with banks, financial institutions and the Financial Ombudsman.
Dave Mead, from Safer Communities which runs the FFA, described the figure as a "huge achievement" but said "behind every case is someone whose life has been turned upside down by fraud".
One man who feared his family had lost £100,000 in an investment scam saw the full amount recovered thanks partly to help from the service.
Speaking anonymously, he said: "I'm not daft. I did what I thought was due diligence. Everything looked kosher.
"There was no pressure selling, the website looked professional and the account was all set up like a proper investment company."
A small initial investment was returned with interest so he put in a much larger sum.
He was then contacted asking for money to be sent to a different bank account and his calls went unanswered when he tried to contact them.
"That was when I started panicking," he said.
'Tip of the iceberg'
While £75,000 was refunded by one of his banks, the remaining £25,000 proved more difficult to get back with another bank refusing to reimburse him.
The FFA said it helped the man successfully challenge that decision by liaising with the bank and taking the case through the Financial Ombudsman process.
Mead said: "Victims often feel embarrassed, blamed or powerless when they have been targeted by organised and sophisticated criminals.
"Our advocates support them through what can be a very difficult and confusing process."
Cleveland Police and Crime Commissioner Matt Storey, whose office helps fund the FFA, plans to write to the Chancellor Rachel Reeves calling for stronger national action on fraud victim support.
"Recovering £1m for victims here in Cleveland is an extraordinary achievement, but it is also just the tip of the iceberg," he said.
"Behind every case is someone living with shame, fear and isolation for something that was never their fault.
"What strikes me most is how many people suffer in silence, blaming themselves for being tricked by sophisticated scams that exploit trusted brands, relationships and new technology."
