Which? responds to latest banks authorised push payment fraud reimbursement performance figures

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

"The PSR's report acknowledges levels of performance vary hugely depending on which bank a consumer uses, so while there have been some improvements, fraud victims are still facing a reimbursement lottery and some firms are clearly way off the pace. 

"The government and the regulator have faced heavy lobbying by sections of the industry to push back against the new mandatory reimbursement scheme which will see the vast majority of scam victims get their money back. Today's figures clearly show these new rules cannot come soon enough and must not be delayed. Consumers are being targeted by highly sophisticated scams, that they can often do little to protect themselves from. The UK is in desperate need of these protections which have been years in the making and will play a vital role in the fight against fraud."

-ENDS-