New powers for banks to combat fraudsters

News Financial services English Law & Policy Updates

Date: 3rd Oct, 2024 Source: HM Treasury Country: United Kingdom Original Source

Brief

New rules extend maximum delay for suspicious payments by 72 hours Gives banks more time to investigate and break the spell of fraudsters Banks will be given new powers to delay and investigate payments that are suspected of being fraudulent, helping to protect consumers against scammers. New laws proposed by the Government today will extend

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HM Treasury

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New powers for banks to combat fraudsters

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