Millions of UK bank customers miss out on security checks

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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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