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Fraud victims face ‘reimbursement lottery’ from their banks
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Scam victims are facing a “reimbursement lottery” when they ask their banks to compensate them for their losses, the consumer group Which? has claimed.
Three-quarters of customers who were turned down by their banks and took their cases to the financial ombudsman have been told that they should have received a payout, and the consumer group said with some banks this rose to eight in 10.
Fraud cases have boomed in recent years, with the pandemic helping criminals to part people from their cash through the use of fake delivery texts and Covid-related messages.
As the number of victims has grown, so has the number of complaints to the Financial Ombudsman Service, which adjudicates on disputes between consumers and financial companies.
In 2020-21,
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