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Banks 'must show action' in fraud cases
Banks 'must show action' in fraud cases
This is a duplicate of the Blog Entry made on: 18th May 2017 18:53
This is a duplicate of the Blog Entry made on: 18th May 2017 18:53
Banks must take "meaningful action" to tackle the threat of customers losing "life-changing sums of money" to fraudsters, a consumer group has said.
Consumer group Which? says banks have made little progress in protecting people from so-called push fraud. Victims are conned into transferring money to the accounts of fraudsters, believing they are legitimate firms. The banks' anti-fraud group said it had a clear action plan which was being worked through.
Extra protection
The issue of bank transfer scams was raised by Which? last year when it submitted a "super complaint" - a legally-backed demand for a review - to the Payment Systems Regulator (PSR). Which? wanted banks to refund consumers in cases where victims had accidentally transferred money to a fraudster, similar to the protections provided on credit card transactions.
Read more here
Consumer group Which? says banks have made little progress in protecting people from so-called push fraud. Victims are conned into transferring money to the accounts of fraudsters, believing they are legitimate firms. The banks' anti-fraud group said it had a clear action plan which was being worked through.
Extra protection
The issue of bank transfer scams was raised by Which? last year when it submitted a "super complaint" - a legally-backed demand for a review - to the Payment Systems Regulator (PSR). Which? wanted banks to refund consumers in cases where victims had accidentally transferred money to a fraudster, similar to the protections provided on credit card transactions.
Read more here