UK banks lose sympathy for cybercrime victims

Date: May 08, 2008
Source: Legalbrief.co.za/


British banks are becoming increasingly reluctant to help victims of Internet fraud as new rules added to the Banking Code signal less willingness to cover losses.

The updated code, which covers the banks' treatment of customers, says The Times, came into effect last month and states that victims of online fraud must have up-to-date antivirus and antispyware software installed, plus a personal firewall, to claim redress from their banks. If you fail to have the correct protection in place, the banks are increasingly likely to refuse any claim for a refund. The more hardline stance has been introduced as figures reveal that cases of fraudsters trying to steal bank details using bogus e-mails has tripled over the past year. Watchdogs say that there were 10 235 reported cases of phishing in the first three months of the year, against 3 394 in the first quarter of last year.
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