‘Banks need financial incentives to protect people from scams’

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The increasing convenience of online banking means that victims can easily lose life-changing sums of money within a few clicks of a mouse

is currently the commonest crime in the country, with one in seven of us targeted by scammers in the past year, according to the bank NatWest.

Last week the Payment Systems Regulator , the payments regulator, reported a set of data detailing how good a job major banks were doing. The results were staggering.

But the concern is that, despite the positive steps taken by the PSR in introducing a fairer and more consistent system of reimbursement, it risks undoing that good work by bowing to pressure from the banks.

Source: Financial Digest (financialdigest.net)

 

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