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Jun 17, 2021 - The Independent UK

Watchdog: Banks must improve scam compensation

Banks urgently need to improve the way they apply a code that reimburses bank transfer scam victims, according to the body that oversees it. The Lending Standards Board (LSB) said progress has not been as it had expected and further areas of concern have also been identified. The LSB said systemic failings are present and firms must work without delay to ensure the best outcomes for customers. Problems highlighted in a previous review have not...