To reduce fraud, Banks must match Name to the A/C No. before Auth. transactions!

• Petition
• Statistics
• Map

Petition Action

To reduce fraud, Banks must match Name to the A/C No. before Auth. transactions!

Petition Details

Currently UK banks only check if the sort code and account number is correct before a transaction is authorised. This opens vulnerabilities for fraudsters to exploit the system. In some other countries, if the name does not match the account then the transaction is rejected.

Additional Information

The UK Government must make this a statutory requirement.

Example case:
MARY has building work done by JOHN. JOHN's email is compromised by fraudsters who send MARY payment request to be paid into an account who they say is under JOHNS name. MARY makes a bank transfer to the account and puts JOHN SMITH as Payee. Because the account number is correct the payment is accepted by the receiving bank. The actual account holder is JOE BLOG. Money is immediately withdrawn. The banks do not reimburse Mary.

---

You can't sign this petition because it is now closed. But you can still comment on it here at Repetition.me!

Have your say on this petition!

comments powered by Disqus