Victims of bank transfer scams face a “total lottery” over whether they will get their money back under a voluntary industry code, according to a consumer campaign group.
Which? said people who fell foul of authorised push payment (APP) fraud are being treated unfairly or inconsistently by banks and building societies when trying to get refunds, leaving some thousands of pounds out of pocket.
The criticism comes amid concerns that criminals have used the coronavirus pandemic as an opportunity to scam people into handing over money.
APP fraud happens when someone is tricked into transferring money directly to a fraudster.
A voluntary reimbursement code was introduced last year to make it easier for fraud victims to get their money back in situations where neither they, nor their bank is