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Are banks overburdened with responsibility for money lost to online scams? Bank boss calls for cross-industry cooperation to reduce scams that trick people into making instant payments online Share this item with your network: By Published: 25 Jan 2021 14:05 A digital bank boss has called for social media companies to share responsibility for losses to consumers duped into transferring money to fraudsters when buying what they think are genuine goods. Anne Boden, CEO at digital challenger Starling Bank, called for cooperation between different sectors to clamp down on authorised push payment (APP) fraud, also known as bank transfer fraud. APP occurs when a consumer sends money to buy something, which turns out to be fake and in fact a criminal steals their money. Banks often reimburse customers through the Contingent Reimbursement Model, introduced in May 2019. This sets out when victims who are manipulated into making real-time payments to fraudsters are to be reimburs

United kingdomAnne bodenStarling bankGareth lodgeContingent reimbursement modelUnited kingdom financeஒன்றுபட்டது கிஂக்டம்அன்னே போடன்ஸ்டார்லிங் வங்கிகரேத் லாட்ஜ்தொடர்ந்து கொடுக்கப்படுவதுடன் மாதிரிஒன்றுபட்டது கிஂக்டம் நிதி