Gareth Shaw, Which? Head of Money said:
“A staggering amount of money has been lost to bank transfer scams during the pandemic, and it’s particularly concerning to still see so many cases where banks aren’t treating fraud victims fairly and handling the complaint as they should.
“While the Treasury’s commitment to make reimbursement mandatory was a big win for consumers, it’s vital for the government to legislate in a way that ensures victims get fair and consistent treatment. The regulator must also now ensure it is ready to introduce and enforce mandatory reimbursement rules the moment that legislation is passed.”