Some £1.5 trillion has been lost in a scam that 'encourages' people to pay money into a fraudster's account.
The con is the most widespread scam in the UK, according to Financial Fraud Study (FFS).
The victim's employer receives a demand to take a percentage of wages out of the victim's pay packet and send it to a 'safe account' which is then drained by the fraudsters.
The fraudsters even chase up people who haven't paid, threatening them with fines and extra interest payments.
Serious Fraud Office investigations have revealed that the fraudsters appear to be led by criminals called "Dave" or "George". In a typical case of bad cop, badder cop most witnesses agree that Dave appears to be your mate, helping you out and doing his best for you whilst taking your money, whereas George is pure evil and stares at you as if he can see price tags on each of your organs.
Once they've found a gullible victim who is prepared to work a lifetime to fund their extravagant lifestyle, they really go to town, adding on spurious other requirements such as 'insurance' payments for a further percentage of salaries. Some even suggest that 20% of all spending in the UK ends up in the hands of these two scam kingpins.
Explanations about the reason for the payments vary from subtle threats such as "it'll help you pay your hospital fees", "it'll be used to teach your children a lesson" to out and out protection racket statements "this is so we can protect you from the bad guys".
