Bank transfer fraud victims to be refunded under new rules - if banks opt in
By Imogen Blake, Senior Digital Consumer ReporterSCAM victims tricked into transferring cash to fraudsters are now more likely to get their money back thanks to new industry rules.A group of banks and consumer organisations have agreed on rules which will give customers better protection against push payment scams
It's seen people conned out of large amounts of cash and not seen a penny refunded, such as landscape gardenerJo Wilson, who had her £40,000 life savings stolen by scammers posing as staff from NatWestOften fraudsters pose as bank staff, solicitors or tax inspectors to con people into transferring cash or handing access to accounts.
Listen to your instincts: If something feels wrong then it is usually right to question it. Don’t pay for goods or services unless you know and trust the individual or business. Meanwhile, banks which sign up to the code will have to prove they have taken steps to protect scam victims, particularly vulnerable ones.But the code is voluntary, which means providers won't be forced to sign up and banks who have won't be penalised for breaking the rules.
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