UK: One in 5 Fraud Victims Unreimbursed

In the UK:

Some one in four people surveyed by the consumer group [Which?] said they had been a victim of financial fraud – and while most had managed to reclaim the lost money from their bank or credit card provider, 20 per cent of victims said they had been left out of pocket.

If you’re unlucky enough to be a victim of financial fraud, your bank should give you your money back unless it can prove you acted fraudulently or without reasonable care.

Which? member Iain Richardson knows what it’s like when a bank refuses to pay out. He had more than £2,000 stolen within 20 minutes of having his debit card stolen, but Natwest turned down his fraud claim because his PIN was used to withdraw the cash. It said he must have been negligent, and when he appealed to the Financial Ombudsman Service (FOS) it also turned down his case. And in June 2009, a judge ruled against a Halifax customer who wanted compensation for money taken from his account, because his PIN number had been used.

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