NatWest launches crypto crackdown

NATWEsT is limiting the amount customers can spend on digital currencies to help stop them ‘losing life changing sums of money’ at the hands of ‘crypto-criminals’.

The High street bank has set daily and monthly caps on how much consumers can transfer to cryptocurrency exchanges in a crackdown on scams and fraud. The bank, led by chief executive Alison rose ( pictured), will let customers transfer no more than £1,000 per day, and

£ 5,000 each month, to the exchanges. The bank said customers in the UK lost £329m to crypto scams last year.

NatWest’s fraud protection head stuart skinner said the bank was ‘ acting to protect customers’.