I welcome last week’s announcement that consumer group Which? is calling for better protection for victims of bank transfer fraud.
Having helped a Godstone couple recover their life savings after being targeted by fraudsters in 2014, I have seen first-hand the devastating impact these scams can have. Since then, I have campaigned for greater action to improve awareness and for banks to do more to protect consumers.
It is my firm view that banks should not absolve themselves of responsibility for these types of scams. Instead, they can, and should, be doing much more to protect their customers.
1 in 10 people have either personally made a bank transfer payment to a fraudulent account, or know somebody that has. It is vital that everything is done to protect consumers from this harrowing form of hidden crime in our community. I fully support the Which? call for better protection and will follow the outcome of this complaint closely.
I encourage everyone to remain vigilant to these scams. Earlier this year, I published some tips and resources to stay safe, which are as relevant now as ever before. You can see these here: http://www.samgyimah.com/2016/02/02/financial-scams-tips-and-resources-to-stay-safe/
For more information on the Which? super-complaint, click here: http://www.which.co.uk/news/2016/09/which-makes-scams-super-complaint-453196/