Hundreds of thousands of fraud victims across the UK are being let down by their banks after seeking advice and compensation, according to research from Which?

The consumer champion found that customers struggled to get through to their bank after they had been a victim of a scam, and that even after they did get through the levels of support were often poor with refunds often being refused.

Eighteen per cent of those who took part in the survey were dissatisfied with the support from their banks after being scammed. Given that the Office for National Statistics estimates there were 4.6 million bank fraud offences in the year to the end of March, this suggests more than 900,000 people are being let down by their banks.

The survey also found that a third of victims of a scam or attempted fraud said that their bank did not offer advice or resources to help them better protect themselves in the future.

Of the people who reported fraud to their bank via phone or webchat, one in seven said that they waited 30 minutes or more to speak to someone. Such a delay could result in more money being taken from their accounts.

There are also growing concerns over “recovery fraud”, where victims of a scam are then defrauded once again by crooks who pretend to help them recoup their losses. This type of fraud has seen a 39 per cent increase since last year, with victims losing £14,408 on average.

What to do if you believe fraudsters have contacted you

The entitlement to a refund depends…

Read more…