Regulator wants checks on bank transfers to start in 2020

May 13, 2019

The UK’s six biggest banking groups will need to have a name-checking service fully in place by the end of March 2020 to make it easier for people sending payments to make sure they are going to the right recipient, under proposals from the Payment Systems Regulator. The move is part of wider efforts to give better protection to people tricked into sending money to fraudsters.


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