Which? responds to TSB press release on coronavirus scams

Gareth Shaw, Head of Money at Which?, said:

“The coronavirus crisis has created the perfect breeding ground for unscrupulous fraudsters to operate, with scammers using callous tactics to exploit people’s fears and vulnerabilities for their own financial gain.

“Everyone should be wary of clicking on links in any unsolicited emails and texts or answering calls, but TSB customers will be comforted by its stance to refund all innocent victims.

“While other banks are adopting a code to refund victims of bank transfer scams, there remain some serious problems – not least that it is being applied inconsistently – and so the time has come for protections to be built into the payment system.”

Statement