"Hundreds of millions of pounds are lost to scammers each year, targeting vulnerable communities and ruining the lives of ordinary people. We need to protect these people better." - Tulip Siddiq, the economic secretary to the Treasury.
"These proposals mark a positive step in the fight against fraud. It's important that banks can delay a bank transfer and take action if they think a customer is being targeted by a scam." - Rocio Concha, director of policy and advocacy at consumer group Which?
"Extending the window will give banks more of a chance to investigate transactions deemed to be suspicious and potentially block any high-risk payments from going through." - Government Announcement.
"If a bank finds evidence to suggest a payment is fraudulent then it needs to inform customers about a delay, and explain what the next steps are." - New rules on payment processing.
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