Which? has today called on the regulator to make banks publish data on how many customers are refunded when they fall victim to a bank transfer scam.
Which? is calling for stronger protections for fraud victims after finding more than £700,000 is lost to bank transfer scams every day.
NatWest Group customers will soon be able to set their own daily bank transfer limit to help fight fraud, and other banks could follow suit, Which? reveals.
Scammers impersonating investment firms ING Bank and Interactive Investor are targeting unsuspecting victims with cloned websites and fake documents.
Which? is urging customers to check bank transfers made between 12 October and 13 November after finding Confirmation of Payee checks failed certain users.
Which? is urging the government to introduce new laws to protect people from losing life-changing sums of money to bank transfer fraud after the Brexit transition period ends.
Over £200m was lost to bank transfer fraud in the first half of 2020, but nearly two thirds of losses weren't covered. Which? looks at new data from UK Finance.
Banks are treating many victims of fraud unfairly or inconsistently, a new Which? report reveals, as it presses for the industry reimbursement scheme to be made mandatory.
Losses from bank transfer fraud soared to £456m last year, despite dozens of banks signing up to a code to protect their customers from these type of scams.
Which? estimates £320m lost to fraud could have been prevented with the long-overdue system, but some customers remain unprotected.