Learn English: Banks Get More Time to Fight Scams (normal)

2 months, 2 weeks ago

Banks Get More Time to Fight Scams

Banks in the UK will have more time to stop money going to scammers, thanks to a new law.

They can now put a hold on payments for up to four days to check if they're legitimate.

This means they can investigate unusual spending patterns and make sure people's money doesn't get stolen.

The new rules are meant to help protect people from scams like romance scams or fake traders.

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Source

Original: BBC News

Tags

#banking #fraud #financial crime #consumer protection #UK economy

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