Card Fraud Refunds

Portside

Hi All

Just a quick question about card fraud and reimbursement.

A few months ago my card was used fraudulently online and £1000 was paid to a company. I spotted this and informed my bank who reimbursed me £1000 and issued me a new card. Since then, the company has also issued a reimbursement of £1000, so I am £1000 up!

My question is, am I legally obliged to tell the bank I have been refunded or would it be assuming that they will take the money out from my account once they realise? This isn't necessarily a question about what is morally right as I have no issues keeping the money from the bank! It is more a question over legality and timescales that they may request or take the money from my account.

Any advice/opinion welcome.

Thanks

PeacefulWaters

It will be interesting explaining your approach to the bank (or the police) as and when the bank chase up their reimbursement from the retailer and discover you've doubled your money.

It is more a question over legality

I am no solicitor.

But I'd suggest wilfully retaining the additional funds is nothing short of theft.

I have no issues keeping the money from the bank

And this is your signed confession.

Portside

Thanks for the reply.

Wouldn't theft imply that I took something? They have given the money to me and I don't know if this is part of their investigation and they will take it from my bank or if I am supposed to tell them it has been refunded.

What would others do?

When I say I would have no problem keeping it. I mean that I am happy to hold on to it until they want it back, I won't be risking spending it!

pmduk

I'd tell the bank. Whatever the law I know it's wrong to profit from another's mistake.

antrobus

Portside wrote: »

....Wouldn't theft imply that I took something? ...

It's s24a Theft Act 1968, Dishonestly retaining a wrongful credit

Portside wrote: »

..When I say I would have no problem keeping it. I mean that I am happy to hold on to it until they want it back, I won't be risking spending it!

Good. not spending it would be key to avoiding any issues with the above.:)

Uxb

The said cause in the Theft Act 1968 was inserted by an amendment from the Theft amendment Act 1996.