Not such a fair cop
SO, One of the country’s most senior scam- fighting police officers says not every fraud victim deserves a refund.
Commander Karen Baxter, the national co-ordinator for economic crime at the City of London Police, said people needed ‘to be more diligent, more personally responsible’, and that there should always be consequences for ‘extremely irresponsible behaviour’.
She was speaking ahead of the launch of a new voluntary code to reimburse victims of bank transfer fraud, and after TSB promised to fully refund ‘ authorised push payment’ fraud victims (where customers are tricked into sending money to a scammer).
Both schemes were introduced to better protect customers who fall victim to a devastating criminal offence — after years of campaigning from the likes of Money Mail.
Yet critics such as Baxter say these guarantees could further fuel the fraud epidemic by encouraging risky financial behaviour; a moral hazard whereby customers are less worried about jeopardising a few thousand pounds because they know they can get it back.
This is simply victim-blaming and demonstrates a lack of empathy as to how these crimes are perpetuated and their effect.
People don’t tend to be negligent when it comes to their life savings. Why would anyone needlessly put themselves through the stress and torment of having to make a timeconsuming fraud claim?
Today’s crooks are sophisticated, shrewd and so convincing that even the most careful consumers can be tricked. And scammers aren’t only outsmarting the general public, but banks and the police, too.
Last year, official statistics showed that more than 96 pc of fraud cases reported to Action Fraud, the national fraud reporting service run by the City of London Police, went unsolved.
One could understand Baxter’s view if a customer’s negligence was the only thing that enabled fraud. But simple security checks are still not in place to prevent money being sent to unverified bank accounts, and fraudsters are stealing even more with impunity. Are the police and banks really doing all they can to protect ordinary people against losing huge sums of money? Until they can prove they are, the victims of
their negligence should be protected under all circumstances.
Life lessons
When it comes to paying pocket money to young children, academics say you can’t beat coins and notes. But, as they get older, it’s important that parents also teach them how to use a debit card and online banking.
This new generation has to know how a beep at a contactless card reader will deplete their bank account in the same way taking 50p out of their piggy bank will.
But cash or cashless, pocket money is the first, vital step in teaching our children how to look after their own money.
Post Office threat
AFTer a shocking forecast last week warned that 2,500 Post Offices will shut or downsize in the next year, the Daily Mail has launched its Save Our Local Post Offices campaign to preserve vital branches.
More than 1,000 have already closed due to financial pressure, while 3,000 others are reliant on subsidies. here at Money Mail we are often reminded how important the services of the humble Post Office are to our readers — many of whom are not online. And, as more banks close branches and cashpoints vanish, their existence will become even more essential.
It would truly be a sad day if our Government failed to protect this important institution and the citizens it serves every day.