Banking Code

People who are tricked into transferring money to a fraudster may be able to get their cash back under proposed new rules – and several major banks are to start reimbursing victims straight away.

Co-op Bank is putting itself up for sale after it confirmed it expects to report a "significant" loss for the year to December 31, though the bank today stressed that it's "business as usual" for its four million customers and that their money is safe.

Banks have been told they must take part in an "Open Banking revolution" and allow customers to manage their accounts with multiple providers through a single digital app by early 2018, as part of a package of measures designed to "shake up retail banking for years to come".

Hackers are thought to be engaged in a renewed attempt to target web users by implanting a computer virus that records which sites you visit.

Anyone with a current or savings account will have been told of "important changes to your account" over the past few weeks by their provider.

Halifax has cancelled a customer’s overdraft without warning and then added bank charges because he was subsequently in the red.