Report: Fraud victims failed

The UK’S biggest banks are failing to properly help fraud victims, a watchdog warns.

A survey by consumer group Which? found that customers often struggled to contact their bank after falling victim to a scam, and faced unacceptable waiting times when trying to report an offence.

The Sunday Post revealed last week that crooks have stolen £64 million from Scots via phone and text scams during the pandemic.

Across the UK every day an estimated £700,000 is being lost to bank transfer scams.

Which? found that in the past 12 months almost a third of fraud victims said their bank had failed to offer advice or resources to help them better protect themselves in the future.

The figures came amid growing concerns over “recovery fraud” – where victims are scammed again by fraudsters pretending to help them recoup their losses.

In the case of unauthorised fraud – where money is taken from an account without permission – the debit or credit card provider must refund the victim unless it can prove that they have been grossly negligent or acted fraudulently.

But for those tricked into sending money to a scammer, there is no such legal protection.

While most major banks have signed up to a voluntary reimbursement code, many customers are not refunded, or are offered just 50% back.

Which? said: “Fraud can have a devastating impact on victims.”

UK Finance, which represents the banks, said: “We agree that more needs to be done.”