MAKE REFUNDS FOR BANK FRAUD VICTIMS MANDATORY, SAYS CONSUMER GROUP
August 2nd, 2020
UK consumer association, Which?, has said the government should make it mandatory for banks and building societies to reimburse customers that fall victim to push payment fraud, where customers are tricked into voluntarily transferring money to fraudsters, after its research revealed failings with a voluntary scheme. In May 2019, the UK’s leading banks and building societies signed up to the voluntary Contingent Reimbursement Model (CRM) Code, which Which? acknowledged has led to more victims getting their money back, but some banks are still denying refunds ...
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