Waiting Period news and trends

UK Regulators Want First-Time Payments Delay To Avert Fraudsters

November 01, 2019
Parliament Treasury Select Committee, first time payments, waiting period, fraud, news
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UK Regulators Want First-Time Payments Delay To Avert Fraudsters

November 01, 2019
U.K. legislators are calling for a mandatory 24-hour waiting period on all first-time payments between bank accounts as a way to reduce fraud, Reuters reported on Friday (Nov. 1). Parliament’s Treasury Select Committee said in a report that in the first six months of 2019, consumers were scammed out of roughly $777 million (£600 million). […]