Banks now refusing to cover online fraud?

[Jimmyboy]

I saw in a breif BBC news summery when they were looking through the next days newspaper headlines a story about banks now refusing to cover online fraud because it's shot up by around 80% in the last year. They didn't go into anymore detail than that.

Has anyone got more info on this?

[ajw000]

http://news.bbc.co.uk/1/hi/business/4009779.stm


nothing much really to worry about if you are internet savvy :)

[rbullivant]

Front page of todays Times! Basically they used to automatically compensate all people effected, they are now going to compensate on a case by case basis.

What they're saying is if someone e-mails you saying they want your bank details and passwords because they want to steal your money, and you send it to them, they won't compensate you.

Rik

[caygs]

Seems fair enough to me. Account holders need to take some responsibility for their actions. However, it will require the banks to make sure that they educate customers to new scams as they evolve, otherwise we will see a hell of a lot of people playing the "I never realised" defence.

[thetope]

what surprised me is that so far out of 14 million people who use internet banking, only 2000 have been affected by this kind of fraud... that's like 0.01 percent or something... it doesn't seem like much (tho granted 4.5 million is a lot of money)