To ask the Secretary of State for the Home Department, if he will bring forward legislative proposals to require banks to compensate victims of fraud in circumstances in which anti-fraud banking protocols have not been followed.
To protect victims against authorised push payment (APP) scams, ten of the UK’s largest banks are currently signed up to the voluntary Contingent Reimbursement Model (CRM) Code. In 2022, £248m of losses to APP scams were reimbursed to victims under the co...
Bank Services: Fraud