Gareth Shaw, Head of Which? Money, said: “Fraud levels have skyrocketed during the pandemic, so it’s good that banks, telecommunications and technology companies are working together to make it easier for people to contact their bank if they fear they’re being scammed. “However, we know fraudsters use incredibly sophisticated tactics to trick victims and many […]
Jenny Ross, Which? Money Editor, said: “Fraud can have a devastating financial and emotional impact on victims, so it’s positive to see Nationwide trying to take steps to prevent their customers from falling victim to bank transfer scams. “However, the onus is still on consumers to spot a possible scam and we know criminals use […]
Jenny Ross, Which? Money Editor, said: “The huge rise in scam complaints reflects a surge in fraud generally as criminals exploit the pandemic to target victims. What is really shocking is the proportion of claims upheld. This shows that in three quarters of cases banks aren’t treating bank transfer scam victims right and handling the […]