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14 Jul 2:00am

Why is it so hard for banks to stop the fraudsters?

The Guardian
Banks are accused of failing to shut accounts used by scammers – but that could soon changeThey are a close-knit band of anonymous fraud fighters, who crusade for justice for victims of online crime – and spend much of their time “baiting” and catching the crooks. But what infuriates “Buster Jack” and his secretive colleagues is when they warn a bank about a fraud – such as identifying an account used by crooks – and the bank fails to act. According to “Jack”, he contacted TSB about an account at the bank that was being used by a scammer to launder funds. Yet three days later someone was persuaded by a fraudster to pay £3,600 into the account – and has not been able to recover the money.
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