Alex Neill, Managing Director of Which? Home & Legal Services, said: “This is a welcome first step, but is not a cure and won’t be enough to protect people from bank transfer scams. Many people will be surprised that banks don’t already do things like check that the payee name matches the account number. “With […]
In just two weeks since Which? launched its online scams reporting tool, more than 650 people have told us about losing over £5.5 million to bank transfer scams. Which? is submitting stories from victims of scams to the Payment Systems Regulator as evidence in its super-complaint into bank transfer fraud. UK consumers now make over […]
Peter Vicary-Smith, Which? Chief Executive, said: “Access to the services necessary to make every day banking possible should be simple and straightforward. Banks can and must do a better job of working with their customers to understand their needs and those of the local community, especially when they are making changes to the services they […]