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The maximum reimbursement limit for bank transfer scam victims has been reduced to £85,000. This reduction follows a backlash from finance bosses, resulting in a decrease of more than £300,000 in fraud victim payouts. In a related development, Fidelity Investments has implemented stricter guardrails on customer deposits in response to an alleged check-fraud scheme that targeted the company earlier this month. Fidelity Investments has also slashed mobile deposit limits as part of its measures to combat the recent wave of fraud.
Fidelity put stricter guardrails on the deposits customers make, hitting back against a check-fraud scheme that targeted the investing giant earlier this month https://t.co/OgYG1X41hk Wise move; though they will have figure out how to things easier for legitimate transactions
Fidelity Slashes Mobile Deposit Limits Following Fraud Wave https://t.co/K6X4wxCfTP
Fidelity put stricter guardrails on the deposits customers make, hitting back against a check-fraud scheme that targeted the investing giant earlier this month https://t.co/ZvPGCffCVC via @WSJ