Payments are blocked as banks' new security check becomes a name game
TheGuardian
SEPTEMBER 6, 2020
Confirmation of Payee was designed to tackle online fraud, but it’s leaving customers unable to transfer funds When the sale of Heather Lord’s house completed, her conveyancing solicitor attempted to transfer funds to her bank account. An automated message warned him that her name did not match the name on the account he was paying into, and that the transfer would therefore be at his own risk.
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