HSBC Bank Fraud
If you've lost money to HSBC bank fraud, we can help you get it back
Bank fraud is on the rise, and HSBC customers are just some of those who have been targeted by scammers. Whether through fake phone calls, phishing emails, or bank transfer scams, fraudsters use increasingly sophisticated tactics to deceive victims into handing over their money or personal details.
If you’ve been a victim of fraud, you might be wondering whether HSBC will refund your money, how to report the scam, and what steps you should take next. This guide explains how bank fraud works, the scams HSBC customers face, and how to recover lost money.
The Definition Of HSBC Bank Fraud
Bank fraud occurs when criminals trick individuals or businesses into handing over their money, personal information, or banking credentials. HSBC customers may be targeted in different ways, including:
- Authorised Push Payment (APP) fraud – Scammers pretend to be from HSBC or another trusted organisation and convince victims to send money to a fraudster’s account.
- Unauthorised transactions – Criminals steal card details or gain access to online banking and make payments without the account holder’s consent.
- Phishing and smishing scams – Victims receive fake emails or text messages that look like they’re from HSBC, asking them to enter sensitive banking details on fraudulent websites.
- Impersonation fraud – A scammer pretends to be from HSBC’s fraud department, claiming there’s a security issue and urging the customer to transfer money to a so-called “safe account.”
HSBC and other banks often warn customers about these types of scams, but fraudsters use convincing methods to make their schemes appear genuine.
Understanding how fraud works is key to protecting your money and personal data.
How Capital Refund House Can Help
What Scams Do HSBC Customers Face?
Scammers use a wide range of tactics to target HSBC customers. Some of the most common HSBC-related scams include:
- HSBC Impersonation Scams – Fraudsters pretend to be HSBC employees, often from the bank’s fraud department. They use spoofed phone numbers, fake emails, and urgent warnings to trick victims into transferring money or sharing banking details.
- Fake Investment Scams – Victims are persuaded to invest in cryptocurrency, stocks, or high-return schemes, only to realise the company doesn’t exist.
- Romance Scams – Criminals build trust with victims online before asking for money, often using emotional stories about medical emergencies or financial struggles.
- Courier Fraud – A fraudster pretends to be from HSBC, claiming your card is compromised. They send a “courier” to collect it, along with your PIN, and then empty your account.
- Loan and Mortgage Scams – Scammers offer fake HSBC loans and mortgages, asking for upfront fees before disappearing.
These scams often appear highly convincing, as criminals use professional language, realistic branding, and spoofed caller IDs to appear legitimate.
Case Study: HSBC's Warning Over Impersonation Fraud
HSBC UK has issued a warning to nearly two million customers about a sophisticated impersonation scam targeting older individuals.
As reported in The Independent, fraudsters, posing as police officers or bank officials, contact victims claiming their bank accounts are compromised and request assistance in a supposed investigation. They instruct victims to withdraw large sums of cash to purchase gold or high-value jewellery, which is then handed over to a “courier” for safekeeping or as evidence. In reality, the victims are handing over their assets directly to the scammers.
The bank emphasises that legitimate authorities will never ask individuals to purchase gold or jewellery as part of an investigation.
HSBC UK’s head of fraud, David Callington, noted a significant increase in scam activity between July and September 2024, with investment scams averaging losses of £33,739 and impersonation scams averaging £20,772 in losses.
Customers are urged to be cautious of unsolicited communications, especially those requesting financial transactions or personal information, and to verify the authenticity of such requests by contacting the bank directly using official channels.
How Do I Know If It's A Scam?
If you receive unexpected contact from HSBC (or someone claiming to be from HSBC), watch out for these red flags:
🔴 Unsolicited messages or calls – If HSBC contacts you out of the blue about an urgent issue, always verify their identity.
🔴 Requests to transfer money – HSBC will never ask you to move money to a different account for security reasons.
🔴 Urgent language and pressure – Scammers create a sense of panic to make you act quickly without thinking.
🔴 Requests for security codes or PINs – HSBC never asks for your full banking details over the phone, email, or text.
🔴 Suspicious links or email addresses – Scammers often use slightly altered website domains to trick you into thinking they are HSBC.
If anything seems suspicious, hang up and contact HSBC directly using their official customer service number.
Will HSBC Refund Scammed Money?
HSBC has a fraud refund policy, but whether you get your money back depends on the circumstances of the scam.
HSBC may refund your money if:
- You were tricked into making a payment under false pretences (APP fraud).
- You reported the scam quickly and followed HSBC’s fraud prevention advice.
- You were a victim of an unauthorised transaction, such as card fraud or account hacking.
However, HSBC may refuse a refund if they believe you:
- Knowingly transferred money to a suspicious third party.
- Ignored security warnings or fraud alerts.
- Shared your banking details with the scammer.
HSBC follows the Contingent Reimbursement Model (CRM) Code, meaning they must fairly assess fraud claims and provide refunds where appropriate.
What If HSBC Denies My Refund Request?
If HSBC denies your refund claim, you still have options:
- Request a formal review – Ask HSBC to reconsider and provide further evidence if possible.
- Complain to the Financial Ombudsman Service (FOS) – If HSBC still refuses, the FOS can investigate whether HSBC handled your case fairly.
- Seek legal advice – If you’ve lost a significant amount, a fraud recovery expert such as those who we work with may help you challenge HSBC’s decision.
Many fraud victims successfully appeal refund refusals, particularly if HSBC failed to warn them about scam risks or did not follow proper security procedures.
Get Your Money Back After A Scam
If you’ve been scammed, taking immediate action increases the chances of recovering your money:
1️⃣ Report the fraud to HSBC immediately – Call their fraud team and explain the situation.
2️⃣ Contact Action Fraud – File a report with the UK’s national fraud reporting centre.
3️⃣ Gather all evidence – Keep emails, text messages, phone records, and bank statements related to the scam.
4️⃣ Escalate your complaint – If HSBC refuses a refund, take your case to the Financial Ombudsman Service.
5️⃣ Stay alert for follow-up scams – Fraudsters often target scam victims again, pretending to help recover lost funds.
Recovering money from HSBC fraud can be challenging, but acting fast, reporting the scam, and escalating your complaint increases your chances of success.
If you need professional assistance, contact us to connect with a fraud recovery expert today. You don’t have to face this alone—help is available to reclaim what’s rightfully yours.