Banks ‘too often blaming customers’ for fraud

Industry News | 11/12/20

Banks “too often” blame customers for falling victim to criminals carrying out fraud, according to the Financial Ombudsman Service. Figures showed a 36% rise in complaints about how banks dealt with fraud and scams this year compared to 2019.

Debbie Enever from the ombudsman told BBC Radio 4’s Money Box “work still needs to be done” on a voluntary code most banks signed up to last year.

UK Finance, representing banks, said stopping fraud was a primary focus. It added that the voluntary code was “not working as intended” and called for legislation to better protect customers.

Source: BBC