UK to introduce new rules to preserve cash and reimburse fraud victims


UK to introduce new rules to preserve cash and reimburse fraud victims

The UK Government is to introduce new legislation to protect access to cash and to require banks to refund victims of authorised push payment fraud.

Bank transfer scam: Which? issues warning

A victim of ‘authorised push-payment’ fraud reveals how she lost £20,000 of her life savings to the bank transfer scam.

Which?’s Money Helpline has seen a large spike in calls about a type of bank transfer or ‘authorised push-payment’ (APP) fraud, where criminals pose as a legitimate company to trick you into transferring money from your bank account.

Protect yourself from bank transfer scams by following these five steps:

1) Hang up
Be wary of unsolicited calls or emails. Call your bank directly using the number on the back of your debit card, and type its web address manually into the address bar.

2) Think twice
Pay attention to your bank’s warnings. They will never ask you to transfer funds to a ‘safe account’ or disclose your full security details, card-reader codes or activation codes by phone or email.

3) Research
Research companies you’re thinking of buying from for the first time. Read reviews and be wary of ‘too-good-to-be-true’ offers. Free services such as flag potentially untrustworthy sites.

4) Update your devices
Keep operating systems, antivirus software and web browsers up to date so your device is protected against the latest threats.

5) Do a test transfer
If you’re making a large payment after receiving an invoice, first send a small amount and make sure the right person receives it.

To read more about bank transfer scams and for expert advice on what to do if you’re contacted by scammers claiming to be your bank, visit:


UK Credit Card Fraud Documentary

Why are bank frauds rising in the UK

*Bank fraud in the UK has risen to such an alarming level that it’s come to national attention. Hey and thanks for tuning in, Holly Shields here for Kalkine Media.
*PSR revealed that between July and September this year, they received over 4400 complaints about scams and fraud, which upheld more than 60% in the consumers’ favour.
*According to the Financial Ombudsman service, one-third of the authorised scam complaints that it has received are about customers ordering online who have not received the goods and services.
*Recently, the PSR announced that the UK Treasury will introduce new laws to provide the mandatory reimbursement for scam victims, as currently victims receive reimburse if banks decide to do so.

#kalkinemedia #bankfraud #UKtreasury #currentlyvictims #ombudsmanservice #psr #reimbursement #natwest #barclays

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Scam victim issues warning after losing $750,000 of life savings | A Current Affair

Subscribe here: | NSW Police Cybercrime Squad Commander Matt Craft has issued some tips on how to spot a scam. It comes after Michelle Lowry thought she was investing in government and bank bonds when she lost $750,000 of her life savings. (Broadcast June 18, 2022)

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