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Bank Services: Fraud

Volume 488: debated on Tuesday 24 February 2009

To ask the Chancellor of the Exchequer what provision the EU Payment Services Directive makes for persons who have been the subject of internet fraud to have access to the (a) time, (b) date and (c) location of money transfer agency money collections. (256265)

The Payment Services Directive requires payment service providers to provide their customers with information before, during and immediately after a payment transaction. However, there are no provisions requiring the provider to disclose specific information about the recipient in the event of internet fraud.

The UK implementation of the Directive will bring money remitters under the Financial Ombudsman Service's (FOS) remit. If a customer is not satisfied with the transactional information provided and had complained to the provider without success, he or she could refer the matter to the FOS.