Santander has pushed back against calls from Which? for banks to publish figures on the proportion of customers they refund for authorised push payment (APP) fraud, arguing that looking at reimbursement rates in isolation could present a “misleading” picture.

APP scams have been on the rise during the Covid-19 pandemic, with losses hitting nearly half a billion pounds in 2020.

Many of the UK’s biggest banks and building societies are signed up a voluntary code, which is based on the principle that blameless victims of bank transfer scams should be reimbursed their losses.

However, the firms have been…

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