Unable to recover fraud money. HSBC

jonesMUFCforever

School holiday time again??

SnowTiger

jonesMUFCforever wrote: »

School holiday time again??

Perhaps.

What the OP describes appears to be an unauthorised debit card transaction. An unauthorised debit card transaction should be refunded.

They have made a complaint to the Financial Ombudsman Service. I guess the FOS hasn't dealt with it yet because of the court case. Now the court case is over, if I was the OP, I would be pushing them look at it.

shaun_from_Africa wrote: »

Wouldn't they have needed more than just your card details?
To make a bank transfer from your account into theirs, they must have been able to access your online account, something that they would have needed log in details for.

OP suggests an intermediary was used.

Post Office savings, for example, will allow money to be deposited via debt card and later withdrawn to a bank account. There are several services that allow this.

PayPal is another one, using a slightly convoluted method.

Es493

Thank you for all your comments.

Yes it was indeed an unauthorised card transaction. I always kept my card secured. The bank needs to prove I acted carelessly with my card details which hey are unable to do so.

According to what I have read, there are laws and regulations in place that protects me from this offence.

However, I am unable to understand if it’s been proven that I am a victim of fraud how is it the bank or the company that has the money just simply give it back to me.

They should have no right to be able to keep my money from me.

The reason I wish to go to a media outlet is to be able to share my story and prevent other people from falling victim to the scam.

Additionally I would like to shame HSBC and the other retailer. They have tried to block every attempt in me recovering my funds.

Either way whenever I get my funds back I’m closing my account with HSBC, capitalistic. Considering if you think about how much money they make from charging interest in overdrafts alone. Banks not refunding victims of fraud is poor.

Google Ryan Lamb Hull, Hull daily mail wrote a piece about it.

KatrinaWaves

The Hull piece talks about the cash machine theft, it does say fraud was separately sentenced but no more details than that.

Now you’ve given away a lot of details why don’t you tell people:

A) why the bank are saying it is first party fraud
what exactly Mr Lamb did with the card payment/bank transfer/purchase. The Hull article hardly describes the bunch as criminal masterminds...
C) how He got your card details. Did you know him? Did you live together?
D) when was the fraud reported to the police? Before or after he was arrested for the cash machine theft?

wesleyad

I thought it was illegal for a retailer to refund to a different funding source due to money laundering? (hence why we always get complaints over gift card refunds). If so, this could be an avenue to pursue.

davidmcn

wesleyad wrote: »

I thought it was illegal for a retailer to refund to a different funding source due to money laundering? (hence why we always get complaints over gift card refunds).

Don't think it's "illegal" as such. Might be a breach of the retailer's merchant agreement with the card companies (e.g. so that nobody can get "free" cash advances via a credit card), but that's not something the OP can get involved with.

DoaM

It could expose the retailer to possible charges of aiding and abetting money laundering ... that's why guidance states that refunds should be made to the same method as purchase.

KatrinaWaves

Es493 wrote: »

my student finance was stolen out of my account.

The company that was used for the fraud won't refund me the money.

They gained access by stealing my card details, I found out who it was as they transferred money into their own account

Also the company which was spent on did not use a verified by visa, they just needed to steal my card details.

I found out who it was as my card was used on a website, there after it was transferred into their own bank account.

The company that was used is now requesting it as the “funds are frozen

It’s fairly easy to steal someone’s card details use a retailer to add funds to an account on their website then transfer the money to their own bank account

Yes it was indeed an unauthorised card transaction. I always kept my card secured. The bank needs to prove I acted carelessly with my card details which hey are unable to do so.

Above are all the statements made about what actually happened to the money. if people can make sense of it, go for it, but its certainly not clear cut it was anything dodgy by 'the company'

if the OP can't provide clear info as to what actually happened (we already know the name of the guy who did it, cant get much more personal!) then there is no point speculating.

Manxman_in_exile

Was this person actually convicted of defrauding you, or was the fraud referred to in respect of someone else? (The article I found isn't clear).


If it was defrauding you, then it would seem (post #40) that whether a compensation order is made is entirely down to the court - no "application" needs to be made. If I were you I'd be contacting the court to find out why it didn't make a compensation order. (You mentioned a "confiscation" order - I don't think that's the same, but I'm not sure).


What reason have HSBC given for not refunding you? What did you claim? You say in the OP that HSBC believes it was "first party fraud" - are they suspecting you were involved? You also say that HSBC do not think you were "grossly negligent". But were you negligent?


If you can't give sensible information I don't think you'll get sensible replies.

garth549

None of this makes sense... If the 'fraud' was someone else using your debit card details on the internet then you should have just reported it as an unauthorised transaction. The bank would have simply done a chargeback from the retailer and refunded you the money. Retailers are generally on the hook for any fraud losses like this which is why they must be vigilant.

This has happened to me a couple of times and it was sorted out within hours.

Suspect there's a lot more to this story.