Rocio Concha, Which? Director of Policy and Advocacy, said:
“Scams continue to run riot, with victims suffering both financially and emotionally at the hands of criminal gangs, and helping consumers to be more aware of scams is very important.
“However, the sophistication of fraud is constantly evolving, yet victims of authorised push payment fraud still struggle to get their money back depending on who they bank with.
“The Payment Systems Regulator intends to make reimbursement mandatory in all but exceptional cases, which would ensure victims receive fairer and more consistent treatment. These proposals must be backed by strong enforcement where banks don’t comply.”
Notes to Editors
– The Payment Systems Regulator’s proposals to require mandatory reimbursement in all but exceptional cases of fraud requires the Financial Services & Markets Bill to be passed into law. Which? believes this Bill must be passed before next Spring’s King’s Speech.
– Which? has campaigned to ensure victims of authorised push payment fraud receive fairer and more consistent treatment from their banks since launching a landmark super-complaint in 2016. See more: https://campaigns.which.co.uk/scams/