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Rising fraud levels call for banking reform in UK

Posted on 20 April 2021. Source: Retail Banker

Partner Robert Wynn Jones has written an article for Retail Banker, on the rise of large-scale fraud taking place across industries and companies of all sizes, as well as impacting enormous numbers of individuals.

Rob says; "It is reported upon every other day in the national press, and in particular fraud against victims utilising the UK banking sector.

Many, albeit not all, of these innocent consumers end up being at least partially refunded by their banks under the Authorised Push Payment Scam Code, a voluntary scheme launched by the banking industry in 2019. What is less well known is that businesses also routinely fall victim to the same banking fraud - just as innocently, and often with significantly larger financial consequences. However, there is currently no scheme, voluntary or otherwise, to protect them."

To read the full article, click here: Rising fraud levels call for banking reform in UK - RBI Subscriber edition | Issue 783 | March 2021 (nridigital.com)

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