The Payments System Regulator (PSR) announces proposals requiring banks and building societies to reimburse victims of bank transfer fraud in all but exceptional cases. This plan is a hugely positive step and could be a game changer for scam victims, ending the reimbursement lottery and ensuring the overwhelming majority get their money back swiftly if they’re targeted by fraudsters.
See how much banks are wrongly denying fraud victim payouts and why this proposal is so important.