Gareth Shaw, Head of Money, Which?, said:
“The number of people targeted by HMRC scams is staggering and the problem is only likely to get worse as the self-assessment deadline looms. Sophisticated tactics like number spoofing see innocent people losing life-changing sums everyday – so banks, telecoms companies and firms being targeted must collaborate on developing solutions to halt this worsening crime.
“Victims of HMRC scams often end up being tricked into transferring money to a criminal, and while a new industry code is in place offering greater protections against transfer fraud, the next government must make this mandatory to ensure all payment providers are signed up to these vital measures. Meanwhile, the banking industry and regulators must urgently agree a reimbursement fund that ensures all innocent victims have their money returned should they be affected by this devastating crime.”