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Related: About this forumBank in the UK? Plans afoot to make YOU liable for bank fraud
http://www.theregister.co.uk/2016/05/26/bank_fraud_liability_shake_up/Bank customers may be obliged to bear the bill for fraud against their accounts, under proposed changes under consideration between banks, the UK government and GCHQ.
Under the plans, individuals or companies with poor online security could be frozen out of banking services or even excluded from the system whereby banks compensate customers whose accounts are hacked, the Financial Times reports.
UK banks - unlike those in the US - routinely cover the costs of online fraud, at least in cases where customer negligence (such as sharing PIN codes or cards with third parties) is excluded. Pushing the burden of fraudulent losses towards customers is likely to be hugely controversial. Bankers bonuses in the wake of taxpayer-funded bailouts of several banks in 2008 have already caused a huge series of rows and radical changes in liability for online banking fraud through phishing and banking trojans is likely to be even more contentious.
The circumstances suggest that ministers are floating an idea they already know is controversial, even politically unpalatable. If anything comes to light it's likely to be much diluted.
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Bank in the UK? Plans afoot to make YOU liable for bank fraud (Original Post)
steve2470
May 2016
OP
Wellstone ruled
(34,661 posts)1. And this same thing is in the works here in the
good old USA.
Bad Dog
(2,025 posts)2. They're floating this while everyone's attention is on Brexit.
A good time to bury bad news.
LeftishBrit
(41,212 posts)3. 'Hugely controversial' - certainly!
If someone commits a crime, the victim shouldn't be the one to pay!