Which? responds to new UK Finance ‘banking protocol’ anti-fraud figures

Gareth Shaw, Head of Money, Which?, said:
“While it’s positive to see the banking protocol producing results and helping to prevent fraud through improved protections in bank branches, overall losses to transfer fraud continue to rise as people fall victim to increasingly complex scams.

“Two years on from our super-complaint and people are still losing life-changing sums of money every day to bank transfer scams. We must see new industry rules urgently introduced to halt this worsening crime, alongside an agreement to reimburse victims when they have lost money through no fault of their own.”