Blameless scam victims who have been tricked into transferring money to a fraudster are set to be entitled to reimbursements under new plans.

The UK’s biggest banks could also be required to publish their performance data in relation to authorised push payment (APP) scams, the Payment Systems Regulator (PSR) said.

It said changes would be made by the UK Government to provide for mandatory reimbursement for scam victims.
A PSR consultation sets out proposals and options to make reimbursement for payment scams mandatory. Barriers have been identified in current legislation that limit the PSR’s ability to ensure victims are reimbursed.

The UK Government intends to remove these barriers to enable the PSR to act as needed following the outcome of its consultation.

Anabel Hoult, chief executive, of Which?, which previously made a super complaint on bank transfer scams, described the plans as “a huge win for consumers”:

“People…

Read full article at www.walesonline.co.uk

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