Which? today submitted a super-complaint to the Payment Systems Regulator (PSR) and the Financial Conduct Authority (FCA) calling on them to ensure banks better protect customers who are tricked into transferring money to a fraudster.
Christopher Woolard, Director of Strategy and Competition at the FCA, said:
“We know that fraudsters can use sophisticated tactics, including phishing and vishing, to dupe even the most financially aware consumers. We will work together with the PSR as they investigate this super-complaint.”