Protecting Against Fraud
At Redbanx Ltd, protecting our clients from fraud and financial crime is a core priority.
We operate systems and controls designed to detect, prevent and respond to suspicious activity, in line with regulatory expectations.
Our Approach to Fraud Prevention
We apply a risk-based and proactive approach to managing fraud risk, including:
- Monitoring transactions for unusual or suspicious activity
- Screening payments against sanctions, PEP and adverse media data
- Investigating and escalating alerts through trained personnel
- Applying risk-based onboarding and due diligence controls
Where necessary, we may delay, review or decline transactions to protect clients and comply with our legal and regulatory obligations.
Important – How We Will Contact You
To help protect you from fraud, please be aware:
We will never:
- Ask you to share your full password, PIN, or security credentials
- Ask you to transfer money to a “safe account”
- Contact you unexpectedly requesting sensitive information
We will only:
- Contact you through official Redbanx communication channels
- Request information necessary to support your account or a transaction
- Ask you to verify information where there is a genuine security concern
If you receive any communication that does not feel right, you should not act on it and should contact us directly.
How You Can Protect Yourself
You can reduce the risk of fraud by:
- Verifying payment details independently before sending funds
- Being cautious of urgent or unexpected payment requests
- Not sharing login credentials or sensitive information
- Taking time to review payment instructions before confirming
If you are unsure about a payment, you should not proceed until you have verified the details.
Authorised Push Payment (APP) Fraud
APP fraud occurs when a person is deceived into sending funds to a fraudster.
This may involve:
- Impersonation of a trusted party
- Invoice or mandate fraud
- Investment or other financial scams
Once a payment has been authorised and processed, recovery may be difficult and may not always be possible.
Important Information
Redbanx Ltd executes payments based on the instructions provided by clients.
You are responsible for ensuring that payment details are accurate before confirming a transaction.
Incorrect or fraudulent payment instructions may result in loss of funds and may not be recoverable.
What To Do If You Suspect Fraud
If you suspect fraud or believe you have made a payment in error, contact us immediately:
We will take appropriate steps to investigate and, where possible, attempt to recover funds.
Need a quick overview?
For a simplified summary and key questions, please visit our FAQ page.