Bank transfers could be delayed for four days to investigate fraud
Source: BBC
Banks will have the power to pause payments for up to four days to give them more time to investigate fraud, the government has said.Currently, transfers must be processed or declined by the end of the next business day, but the new law will allow an extension of three more days.For years, banks have needed to have reasonable grounds to suspect fraud before being able to investigate – but have also faced pressure…
This is aggregated or syndicated coverage. Reporting and media belong to the original publisher.
Read the original source at BBC