Consumers make over 70 million bank transfers a month, but scam victims have no legal right to get their money back
The Share Radio Evening Show
In just two weeks, more than 650 people reported losing over £5.5m to bank transfer scams.
Which? is submitting this information to the Payment Systems Regulator as evidence in its super-complaint into bank transfer fraud.
UK consumers now make over 70 million bank transfers a month, but victims conned into transferring money by bank transfer to a scammer currently have no legal right to get their money back from their bank.
Olivia Demetriades spoke to Pete Moorey, Head of Campaigns at Which?.