Only 46% of bank transfer scam victims get money back, says Which?
Less than half of the losses of fraud victims who transfer cash to scammers’ bank accounts have been repaid under a voluntary code that banks are applying inconsistently, according to a consumer group.
Which? called for the code, introduced in 2019 to ensure the reimbursement of money lost in bank transfer scams, to be strengthened and mandatory standards to make the process “fairer and more consistent”.
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