Contact your bank immediately if you think you’ve lost
money to a fraud or a scam, says Banking Ombudsman Nicola
Sladden.

This week is Fraud Awareness Week, and the
Banking Ombudsman Scheme continues to receive a steady
stream of fraud or scam cases, about 40 a month.

“We
know this is the tip of the iceberg and scammers are
everywhere,” says Ms Sladden. “Be careful online, stop
and think before clicking links, and if an offer seems too
good be true, it probably is. If you think you’ve lost
money to a scam, contact your bank – and the police –
immediately.”

“Banks have a general duty to
reimburse customers for fraud from unauthorised
transactions, unless they can show the customer was
negligent or breached their terms and conditions, for
example by sharing their card or PIN number. When customers
authorise payments – such as in romance or investment scams
– we look at whether the bank acted with reasonable care and
skill. Did they followed up on ‘red flags’ for example,
and did they try to recover the payment
promptly.”

See recent Banking Ombudsman Scheme cases
and guidance on ‘recovery room’ scams, which target scam
victims desperate to retrieve their money,
below.

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