More pow­ers to go to bank scam vic­tims

Sunderland Echo - - Your Money -

Scam vic­tims who have been tricked into trans­fer­ring money di­rectly to a fraud­ster will soon have stronger pow­ers to com­plain about the bank that re­ceived the money not just their own bank. The new rules be­ing in­tro­duced by the Fi­nan­cial Con­duct Author­ity (FCA) come into force on Jan­uary 31 2019. Un­der the rule changes, the bank re­ceiv­ing money from a vic­tim of this type of scam, known as au­tho­rised push pay­ment (APP) fraud, will have to take the vic­tim’s com­plaint on if one is made to them about how they are han­dling the sit­u­a­tion. If, af­ter com­plain­ing, the scam vic­tim is still un­happy with the way the re­ceiv­ing bank has han­dled their case, the new rules will al­low them to es­ca­late their com­plaint to the Fi­nan­cial Om­buds­man Ser­vice (FOS).

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