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Urgent Must Know – UK banks must refund victims of fraud within 5 days!

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Post: Urgent Must Know – UK banks must refund victims of fraud within 5 days!

⚠️ FRAUD RULES JUST GOT JACKED UP

💥 NEW RULES. BANKS CAN’T HIDE NOW.

From 7 October, the UK government has basically body-slammed the banks. They’ve got FIVE DAYS to refund fraud victims — up to £85,000. No more “Sorry, not our problem.” It’s the law now, courtesy of the Payment Systems Regulator.

Before? You got scammed, the bank shrugged. “Voluntary” refunds if you begged hard enough. Now? It’s GAME ON.

💸 CAP DROPPED — AND PEOPLE ARE LOSING IT

The payout cap was gonna be £415,000. Now it’s £85,000. That still covers 99% of cases, says the PSR — but consumer group Which? ain’t happy. For the unlucky 1% who get hit big? It could be a KO.

Oh — and if a scammer used two banks? Your bank can claw some cash back from the other one. Teamwork… kind of.

📈 FRAUD ISN’T JUST RISING — IT’S ON STEROIDS

In 2023, APP fraud hit 232,429 cases. That’s almost a quarter million people scammed. The damage? £459.7 MILLION. That’s not a number — that’s an emergency.

This new law is a step forward. But don’t sleep — banks still need watching like hawks. Push. Pressure. Don’t get played.

🔗 #REALITYCHECK

#UKFraudRefunds #BankReform #FraudCrackdown #APPFraud #ScamAwareness #PSR #NoMoreExcuses #BankingWakeUp #ConsumerPower #FinancialProtection #OctoberRules #MoneyJustice

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