TLT Solicitors on 24 August published a report on the update issued by FOS on 21 August. It says that there are growing concerns from the regulators, HM Treasury and the FOS in relation to the increasing sophistication of payment fraud scams and whether enough is being done to protect and educate customers. It says that, apart from official initiatives, the industry is also working together to produce the industry code on tackling authorised push payment (APP) scams which aims to give greater protection and a better chance of reimbursement to victims.
The update is available at –
http://www.financial-ombudsman.org.uk/publications/ombudsman-news/145/pdf/issue145.pdf
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