Rocio Concha, Which? Director of Policy and Advocacy, said: “This plan from the PSR is a hugely positive step and could be a game changer for scam victims, ending the reimbursement lottery and ensuring the overwhelming majority get their money back swiftly when they are targeted by APP fraudsters. “The regulator must ensure fraud […]
Rocio Concha, Which? Director of Policy and Advocacy, said: “Confirmation of Payee checks are an essential step that all payment firms should be making to help prevent scams which can devastate the lives of victims. Which? has consistently warned that fraudsters will target payment providers not using them, so it’s positive to see these plans […]
Some banks are leaving potential fraud victims to wait for more than half an hour to speak to a member of staff and charging them hefty fees to use helplines, a Which? investigation has found. Fraud victims, including those defrauded by Authorised Push Payment (APP) scams, where fraudsters trick people into sending them money unwittingly, […]
Rocio Concha, Which? Director of Policy and Advocacy, said: “Which? started the campaign for victims of bank transfer scams with a super-complaint more than five years ago, and welcomes a Bill to enable mandatory reimbursement of APP victims when they are not at fault. “Scam victims currently face a reimbursement lottery depending on who they […]
Victims are losing more to bank transfer scams every hour than the average UK worker earns a year, Which? research reveals, as the consumer champion calls on the government to urgently act on its commitment to legislate for mandatory reimbursement of victims. A voluntary reimbursement code on bank transfer scams, also known as authorised push […]
Anabel Hoult, Which? Chief Executive, said: “It’s great news that the government has listened to the stories we have shared from scam victims and from the huge range of organisations that have been pushing for this change. This could make a huge difference to stemming the tide of fake and fraudulent ads on social media […]
Anabel Hoult, Which? Chief Executive, said: “Five years on from Which?’s super-complaint on bank transfer scams, this commitment from the Treasury to legislate to make reimbursement mandatory is a huge win for consumers. “People are still losing life-changing sums of money every day, so the Treasury must move swiftly towards introducing the necessary legislation. The […]
Which? today reveals which banks are most often found to be treating authorised fraud victims unfairly, with some firms getting decisions over scams and reimbursement wrong in nearly nine in 10 cases. Most major banks have signed up to a voluntary reimbursement code on bank transfer scams, also known as authorised push payment fraud (APP), […]
Rocio Concha, Which? Director of Policy and Advocacy, said: “Online scams have soared since the start of the pandemic and this is now one of the most prevalent types of crime affecting UK consumers. Scam victims suffer devastating financial and emotional harm, yet online platforms are failing to prevent criminals operating on their sites, despite […]
Gareth Shaw, Which? Head of Money, said: “While many banks now have Confirmation of Payee measures in place, the regulator needs to make it mandatory for all payment providers as soon as possible so all consumers can benefit from the same level of security. “Which? has warned the regulator that relying on some providers to […]