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In all, ?354 million had been taken year that is last these frauds, referred to as authorised push-payment frauds. But so far, banking institutions had refused to pay for payment, claiming the victims must have been more careful.

TSB will now just will not pay up if some body repeatedly ignores security advice and it is defrauded over and over.

Other major loan providers, have actually finalized as much as a voluntary rule which will demand them to refund scam victims from might 28.

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