Halifax customer warns of ‘classic’ cold call scam where fraudsters could get your details | Personal Finance | Finance
This is a fraud prevention system which lets customers know whether the name of the person they think they are paying matches the bank account number they are paying money to.
Enrique Alvarez, head of everyday banking at Santander UK, said: “The sheer scale and value of APP fraud can detract from the real impact of these crimes on individual consumers, who can lose more than just money – their confidence and mental health can also be significantly harmed.
“Unfortunately, we see this far too often, and it is time for us all to act together. The criminals who perpetrate these scams shouldn’t be getting away with it.
“As our report shows, there are changes the banking industry can implement – but there are other changes that are clearly outside the banking industry’s control – like how fraudsters often reach their victims in the first place.
