Banks must take “meaningful action” to tackle the threat of customers losing “life-changing sums of money” to fraudsters, a consumer group has said.
Consumer group Which? says banks have made little progress in protecting people from so-called push fraud.
Victims are conned into transferring money to the accounts of fraudsters, believing they are legitimate firms.
The banks’ anti-fraud group said it had a clear action plan which was being worked through.
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