'Super-complaint' for victims of bank transfer fraud

[Michael Browne]

People who are tricked into transferring money to a fraudster deserve better protection, according to consumer group Which?.

 

In a challenge to regulators, it said that anyone falling prey to a bank transfer [problem] had no legal right to get their money back from a bank.

 

It wants them to order banks to offer people the same protection that credit card fraud victims receive.

 

But the banks' anti-fraud group said that a blanket approach would not work.

Financial Fraud Action said it was correct for banks to pay compensation on a case-by-case basis, otherwise there was a chance that people would not be careful.

 

Transfer S cams

 

The consumer group pointed out that banks have security checks on activities where they are liable to reimburse the victim, for example on credit card fraud.

 

It wants similar protection for victims of bank transfer [problem]s.

 

 

Using its legal powers, Which? is making a super-complaint to the Payment Systems Regulator and alerting the Financial Conduct Authority. The regulators have 90 days to investigate and respond.

http://www.bbc.co.uk/news/business-37442288

 

 

Call on the government and regulators to safeguard us from fraud

 

Sign the petition to support Which?’s super-complaint and force banks to take action on financial fraud.

https://campaigns.which.co.uk/[problem]s-fraud-safeguard/?utm_source=whichcouk&utm_medium=email&utm_campaign=sclaunch230916

[king12345]

I can see this becoming a money making s cam.

Prince of fantasyland promises £50M to his mate in UK who pays the release fee and then gets the money back from the bank.

Too easy to exploit, would be better to educate people with tv adverts etc.