Response to the APP scams steering group draft code to better protect consumers from push payment scams
By: Age UK
Published on 28 September 2018 10:00 AM
AGE UK’S RESPONSE TO THE APP SCAMS STEERING GROUP DRAFT CODE TO BETTER PROTECT CONSUMERS FROM PUSH PAYMENT SCAMS
Caroline Abrahams, Charity Director at Age UK said: “Over £500,000 is lost to these scams every day. They are often so sophisticated that no-one should be expected to spot them, sometimes involving grooming of very vulnerable people. Criminals mislead people into authorising a payment in a way that rules them out of compensation under current rules. Ordinary people who have done everything reasonably possible to protect themselves suffer catastrophic, life-changing losses. In some cases, older people may lose their life savings and suffer health shocks.
“Yet in too many cases, the victim’s bank could have done more and faces no consequences. This code is urgently needed to start to redress the balance and as a sorely needed signal that some banks do care about their loyal customers.
“Age UK welcomes the real progress made so far in developing this code with industry but is disappointed that there is no agreement yet on what happens if neither the bank nor the customer is to blame, so that in these cases consumers will continue to pick up the cost. Age UK is anxious that the steering group urgently finds a solution to this fundamental problem.
“We call on all firms affected to respond constructively to the consultation and to sign up to implement the code as soon as possible, thereby raising the quality of protection for their customers. And we encourage everyone affected by this serious issue – including victims themselves and their families – to respond to the consultation so we get it right.”
Notes to editors:
Age UK offers free information and advice for anyone who is worried about being scammed, including free guides Avoiding scams, Staying safe and Internet security among others. For further information visit www.ageuk.org.uk/avoidscams or contact Age UK Advice on Freephone 0800 169 65 65.