BANK TRANSFER SCAMS

Early day motion 390, tabled 12 October 2017 by Tim Farron (Liberal Democrat). Signed by 18 members.

That this House regrets the rising prevalence of bank transfer scams; recognises the devastating effect of banking fraud on hundreds of ordinary people across the country who are often tricked into losing their entire life savings; notes a recent survey carried out by consumer group Which? which found that of the 650 respondents, £5.5 million was lost through scams, and very few people got their money back; believes that banks have a duty to help their customers get their money back when people get scammed; and calls for heavy penalties to be imposed on banks that do not help scam victims to get their money back.

Signatures by party: Labour 7, Scottish National Party 6, DUP 2, Liberal Democrat 2, Independent 1.