Which? comments on a new report urging the UK to lead the fight against the global fraud epidemic

Rocio Concha, Which? Director of Policy and Advocacy, said:  

"This report lays bare the scale of the global fraud epidemic. While businesses in a range of sectors must do more to tackle fraud, this research clearly shows that the public believes banks and payment firms have the greatest responsibility for reimbursing victims - and this is likely to remain the case while firms let criminals open accounts with inadequate identity and security checks. 

"The government must show that it treats fraud as a national priority and that it puts the victims first. Fraud victims were dealt a terrible blow by the Payment System Regulator’s decision to slash the maximum reimbursement limit by £330,000, which sidelined victims in favour of payment firms that refuse to put in place proper fraud security measures. 

"To tackle fraud, the government should also lead a more coordinated approach by encouraging sectors to share data and stop scams spreading. New duties, equivalent to the obligations being introduced for banks and online platforms, should be placed on telecom providers, online advertising providers and domain registrars to ensure they verify the legitimacy of users."

-ENDS-