New Regulations Mandate UK Banks to Reimburse Fraud Victims
Starting in 2024, UK banks will be required to refund customers who fall victim to authorised push payment (APP) fraud, according to new rules confirmed by the Payment Systems Regulator (PSR). Under these regulations, banks and payment companies must reimburse customers who have been tricked into sending money to scammers. APP fraud occurs when individuals […]
Hundreds of scam victims are winning refund refusal battles against banks – including one case where Santander had to repay up to £345,750
A wave of bank customers are winning huge payouts after battling over refused scam refunds and taking their case to the Financial Ombudsman Service. It gives hope to those scam victims whose bank refuses to compensate them, especially those trapped by a loophole that means they lose automatic refund rights if they pay someone who later turns […]