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Blockchain Scotland explains how banks can combat transfer fraud

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October 22nd, 2018
Chris and Paul Stewart from Blockchain Scotland Limited join the show to explain how UK banks are protecting themselves from the future of fraud. UK Banks will begin confirming names on all money transfers in an attempt stop to the rise in bank transfer fraud. Under current legislation, anyone sending funds in the UK is asked for the account number, name, and sort code. However, surprisingly, the bank does not verify that the recipient name is accurate. This leaves the door open for scammers ... Read More

22-10-2018


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