Lloyds Bank has formed an industry working group with Chargebacks911 and other payment platforms to tackle the growing issue of scams involving fake websites, as explained in a new article for PaymentExpert.
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The new partnership between Chargebacks911 and Lloyds Bank seeks to address fake website scams. As noted in the piece, this fast-growing threat has led to a 211% increase in card payment disputes over the past year. “It’s sad to see another scam on the rise, tricking people into parting with their hard-earned cash,” says Gavin Evans, Senior Manager for Consumer Cards at Lloyds Bank.
Evans goes on to reflect on advice to help protect consumers from becoming victims. “When we spot a bargain online, it can be tempting to snap it up, but it’s important to remain vigilant and know that rogue retailers use social media to promote significant discounts on goods they have no intention of delivering. Remember the old adage – if something appears too good to be true, it usually is,” he says.
