Rocio Concha, Which? Director of Policy and Advocacy, said: “Hundreds of millions of pounds are lost every year to bank transfer fraud, and victims desperately need stronger protections in the form of mandatory reimbursement in all but exceptional cases. “It has been seven years since Which? first launched a super-complaint over the treatment of bank […]
Some banks are leaving customers vulnerable to fraudulent spoofing attempts by failing to implement important anti-fraud protections, a Which? investigation has found. Spoofing, where fraudsters impersonate legitimate companies, such as banks, utilities providers or government agencies, is a common tactic used to deceive victims. Ofcom estimates that 40.8 million UK adults have received a suspicious […]
Gareth Shaw, Which? Head of Money, said: “It is positive that the Payment Systems Regulator recognises the need to protect scam victims, but almost five years after Which?’s super-complaint and with hundreds of millions of pounds every year still being lost to bank transfer fraud, it’s clear that action rather than words is needed. “Time […]
Ahead of moves that could greatly reduce Britain’s free-to-use ATM network, Which? reveals consumer reliance on cash machines, with eighty percent of people finding access to free-to-use ATMs important to their daily lives and needs. Which? surveyed over 1,200 members to understand the impact that a potential reduction in free-to-use ATMs would have on the […]
Which? research has identified over 200 communities in Britain with poor ATM provision, or no cash machines at all, which might be hardest hit by proposals that could reduce the network. Which? is worried that proposals from LINK – the UK’s largest cash machine network – to lower its fees by 20% could lead to […]
Which? is urging the regulator to intervene to ensure that consumers are not left struggling to access cash, as new proposals cast doubt over Britain’s free-to-use ATM network. Which? is worried that LINK – the UK’s largest cash machine network – proposals to lower its interchange fee by 20% could lead to widespread closures of […]
Today Which? is making the first super-complaint to the financial regulators calling on them to ensure banks better protect customers who are tricked into transferring money to a fraudster. UK consumers now make over 70 million bank transfers a month, compared to just over 100 million in a whole year a decade ago. However protections […]