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'We had 300,000 taken in payment scam'

Thursday, 9 November 2017  |  Admin

 

'We had £300,000 taken in payment scam'

People who have been conned into authorising their bank to pay a fraudster could find it easier to get compensation, under plans being put together by the regulator.

The Payment Systems Regulator is trying to devise a way to reimburse victims of authorised push payment (APP) scams.

In the first half of this year, 19,000 victims lost £100m to APP scams.

One such, Kate Blakeley, described the "sheer horror" of discovering the loss of almost £300,000 through such a scam.

Ms Blakeley, who was in the process of buying a house with her partner, described her experience. She thought she was transferring money to the right account, but it was in fact one controlled by a fraudster.

"We transferred just under £300,000 on the day and within about three hours, we realised the money had gone missing.

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Source: BBC Business News http://www.bbc.co.uk/news/business-41897888

 

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