Millions of UK bank customers miss out on security checks


Several banks yet to bring in confirmation of payee, which checks sender is paying the right recipient

Millions of UK bank customers are missing out on a vital service designed to help prevent people being scammed by fraudsters.

Last year the industry launched confirmation of payee (CoP), a new check that meant anyone trying to transfer money into an account could only do so if they had the holder’s correct name.

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