Thousands of people remain at risk of online bank fraud because several banks have failed to sign up to a new scheme designed to refund victims.
Until now, many victims who have unintentionally sent money to scammers haven’t been refunded because they actually confirmed the payment.
But under new rules introduced on 28 May, banks will reimburse victims from a pot of money that banks will contribute to.
Many leading banks have signed up to the voluntary code, including Barclays, First Direct, HSBC, NatWest, RBS and Santander.
Those that haven’t include Co-op Bank, Tesco Bank, Virgin Money, and Yorkshire Bank, though they’ve all said they’re planning to join. TSB, meanwhile, has separately announced it will automatically refund all “innocent” victims.
The scheme covers victims of authorised push-payment (APP) scams, in…