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Scam code of conduct
Has your business been targeted by fraudsters?
Contact us right away to report a scam. We can then guide you on what to do next.
Our code of conduct only applies to payments before 7 October 2024 if your business:
- Has an annual turnover and/or balance sheet of £2million or less.
- Employs fewer than 10 people.
- Or is a charity whose annual income is £1million or less.
Since 7 October 2024, we follow a different set of rules for customer scam refunds.
Pay attention to our warnings
Our security systems help us to fight fraud. We can use them to warn you about a scam before you make a payment and when you:
- Set up a new payee.
- Amend an existing payee.
If you get a warning, make sure you take suitable action to protect your payment.
We may not refund your money if you ignore a warning and fail to act.
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What to look out for
Before you make a payment, you need to double-check all the details to make sure:
- You pay the right person or company.
- That the goods or services you want are genuine.
- Any investments are with a genuine company.
Don't rely on an email, text message or a caller ringing to give you the correct name, account number and sort code.
To double-check, call the person or company on a number you trust. Never use one from a message or a call.
By double-checking, you’ll help to protect your business from scams, and your right to a refund.
Use your own payment measures
If you run a small firm or a charity, then you should have measures in place to approve a payment.
Always follow your measures as they can help you to avoid a scam.
If you don’t use them and lose money to a scam, your business may not get a refund.
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If you make a fraud claim, we’ll review it to make sure a payment was made fairly and with care.
We can then decide on a refund for any money your business may have lost.
We won’t give a refund if your business does something dishonest or careless that helps a scam to take place.
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Lloyds Bank will never ask you to:
- Share account details like user ID, password and memorable information.
- Tell us your security number for Telephone Banking.
- Tell us the PIN code or expiry date of your business bank card.
- Move your money to another account.