Martin Lewis shares tips for checking scams
There was £147million worth of refunds made in 2020, but this was equivalent to just 47 percent of losses, it was said. Campaigners said banks should be forced to publish statistics on reimbursements as without transparency people will continue to be treated unfairly and inconsistently. Consumer group Which? has highlighted the issue.
Its head of money Gareth Shaw said: “Without greater transparency, inconsistent and unfair treatment of scam victims will continue, and the chances of having their losses returned will remain a lottery.”
Most lenders are not prepared to voluntarily publish their reimbursement data and should now be forced to do so, said Which?
Currently, information about the amount of money individual banks refund to customers is published anonymously.
Two years ago, a voluntary code was introduced committing banks to reimburse customers tricked into transferring money to a fraudster, in…