UK banks enhance reimbursement policy for online scam victims, capping reimbursement at £85,000.
A UK bank is enhancing its reimbursement policy for customers scammed in online transactions, emphasizing the importance of vigilance. New regulations mandate reimbursements for bank transfer fraud up to £85,000, with some cases eligible for more. While banks can impose a £100 excess fee, certain institutions, like Nationwide and TSB, will waive it for customers. This initiative aims to improve consumer protection against fraud.
October 06, 2024
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