“We are yet to see improvements from the banks to stop people losing life-changing sums of money” – Which? response to the PSR’s annual plan and budget for 2017/2018

Gareth Shaw, Which? money expert, said:
“There is a massive gap in consumer protection for victims of bank transfer scams, so banks and regulators should be doing much more to protect consumers.

“We are yet to see improvements from the banks to stop people losing life-changing sums of money. The regulator needs to take swift action, propose new measures and implement stronger rules to help customers get better protection.”

Statement