More as­sis­tance for vic­tims of fraud­sters

Evening Telegraph (First Edition) - - Uk World Today -

PEO­PLE tricked into trans­fer­ring money to a fraud­ster could soon find it eas­ier to make a com­plaint in cases where they be­lieve the bank re­ceiv­ing the money did not do enough to pre­vent it.

The Fi­nan­cial Con­duct Au­thor­ity (FCA) has pro­posed changes to com­plaint han­dling rules to help vic­tims of the scam, known as au­tho­rised push pay­ment (APP) fraud.

APP fraud hap­pens when a fraud­ster tricks some­one into in­struct­ing their bank to send money from their ac­count to an ac­count con­trolled by the scam­mer.

UK Fi­nance data shows there were 43,875 cases and to­tal losses of £236 mil­lion in 2017.

The FCA is propos­ing to change the rules to al­low those el­i­gi­ble to be able to take com­plaints to the Fi­nan­cial Om­buds­man Ser­vice.

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