Whether people are conned out of a few hundred pounds, or many thousands, the impact of scams can be devastating. And scammers are always looking for new ways to exploit you.
That’s why we’ve set up a new free system to protect you from scammers.
Sign-up for the Which? scam alert service and we’ll send you regular updates on new scams we come across – so you can stay one step ahead of the scammers.
But it shouldn’t just be down to you to stop the scammers. Banks and other businesses should be taking steps to protect you.
Banks must do more
Scammers often use bank transfer scams to con victims out of their money. In 2019 alone, the UK public lost a staggering £317m through these scams – that’s £860k a day.
The situation was dire. So we forced banks to act, demanding refunds for scam victims. They listened, and introduced reimbursement for innocent victims of scams last year – but this scheme is due to run out soon.
Banks and the financial regulator must now act to secure funding for scam victim reimbursements into the future.
We also demanded banks introduce technology that confirms the recipient’s name when transferring money, stopping fraudsters pretending they’re someone else.
Most banks have promised to introduce this ‘confirmation of payee’ system, but some are dragging their heels – this simply isn’t good enough. All banks must now do everything they can to protect their customers.
Businesses need to tackle scammers
But it’s not just banks.
Social media sites, telecoms companies, online marketplaces and others have a duty to block scammers from operating on their sites and services.
Otherwise they’re simply enabling scammers to operate. It’s that simple.
Businesses and banks need to do their duty and protect their customers from scams.
Agree? Sign the petition.