At least £1.5 trillion has been lost in a nationwide scam that 'encourages' people to unwittingly transfer their money into a fraudster's account, according to Financial Fraud Study (FFS).



‘It’s a clever ruse, and utterly believable,’ said a spokesman for FFS. ‘The victim's employer receives a demand from a shady outfit calling itself HMRC to take a percentage of wages out of the victim's pay packet, falls for it, and then transfers the money to a 'safe account' where it can be frittered away by the fraudsters.’