Legal obligations of credit card company & fraudulent transactions

roses

Hello,

I reported some fraud on my credit card back in April to the tune of £2,000. My credit card company still have not refunded me the money (they credited it then took it out again the next day). I have no heard a single thing from them except the fraud declaration they asked me to fill out. I wrote them a letter to their complaints deartment and still not a sausage. The direct debit was taken from my account ages ago.

Does anyone know what the legal requirements are of them to give me back money which was done as a fraudulent transaction on my card? It was for some internet holiday company which I have never heard of.

I would like to write to them one final time and quote some legal stuff at them. Can anyone help?!

James

Your card issuers is more than likely signed up to the Banking Code (March 2008).

Paragraph 12.12 of the code states:

Unless we can show that you have acted fraudulently or without reasonable care, your liability for your card being misused willbe limited as follows:

If someone else uses your card, before you tell us it has been lost or stolen or wthat osomeone else knows your PIN, the you will have to pay is £50.

If I were you what I'd do now: (coped from another posting).
This was in response to this posting (click here).

The Banking Code is just that, a Code and not a legal requirement.

The bad news is that more and more banks are refusing to cough up and reimburse victims.

What I’d do now and why:

Report this to the Police and get a crime reference or incident number.

Why?

By reporting this to the Police it will help convince the Bank your really are a victim.

Allows early intervention by the police if ATMs or shops PIN Pads have been tampered with. It may also point to a data breach. But don't expect the police to investigate.

Follow up your fraud declaration with a letter and put everything in writing soonest. (Keep a copy, send letter recorded and request a receipt).

In the letter give your card issuer the Crime Ref or Incident No.

Ask your card issuer if the crime was perpetrated using your Card Details, or if your Card was Cloned and the transactions authorised with your PIN or a Signature.

Why?

The letter will prove you reported the crime as soon as you noticed it and you've now got a crime ref number

By asking how the crime was perpetrated will allow you to take the necessary steps to protect yourself from further frauds.

Video's & recent Media Articles:

Fraud Victims Lucky To Get Help (BBC 12 Sep 2008).


BBC Watchdog Chip & PIN and The Banking Code.

BBC News Night (Chip & PIN Take-over and Fraud Risk Part 1)

BBC News Night (Chip & PIN Take-over and Fraud Risk Part 2)

If you watch the above News Night videos consider the following:

Asda Gosport (chip & PIN entry devices hacked).

Eire (Chip & PIN entry devices hacked).

I suppose someone challenging their bank to prove they were careless with their PIN, and the bank couldn't. I'm sure any reasonable judge, furnished with the above informaiton would come down on the side of the victim.

Good luck.

roses

I read on the Citibank website that they only give £50 but according to the BBC:

http://news.bbc.co.uk/1/hi/business/3256799.stm


The law states that cardholders are not liable for fraudulent transactions as long as the original card is still in their possession. Any bank or business turning down a refund request is on very shaky legal ground.

I am trying to find out what this law is so I can get my money back!