Sunday, April 21

Day: February 8, 2020

How a couple lost £43,000 but can’t get a refund
Featured, United Kingdom

How a couple lost £43,000 but can’t get a refund

    It started with a phone call to their home landline and ended with a police stakeout and panic alarm being fitted in their Cambridgeshire home. A retired couple who lost £43,000 to persistent and expert fraudsters have become the latest victims to complain that banks’ voluntary fraud code promising refunds to victims is worthless. In May last year, the UK’s biggest banks all agreed to abide by a new code that would see the victims of what is known as authorised push payment fraud refunded in full. Victims duped into sending money to an account operated by criminals were to be refunded, where they had been the victim of a complex fraud a so called no blame scenario. At the time the code was hailed as a breakthrough as before then the banks were routinely blaming fr...