What compensation could I be entitled to? Can I get my money back? 3 November 2022 at 12:55PM in Consumer rights 34 replies 1.8K views

licha4531

Hi, I’ve just discovered I have been victim of a scam stealing my savings. Somehow, I’m not sure exactly how, someone has gained access to my account and updated bank details where I was due to receive my funds, diverting them to their own account. I’m wondering how protected I am and what chance I have of getting my money back (obviously not the actual funds but some compensation or insurance)?
If anyone has experienced similar please help.

Aylesbury_Duck

I'm afraid no one will be able to say without much more information.  Your first port of call should be your bank, and changing all your passwords for all accounts, emails, etc.  Your login credentials appear to have been compromised and if you have the same passwords for other accounts, assume they are all at risk.

Compensation for what?  Until you find out if you've incurred any losses and whether or not you had a part to play in the situation, compensation should be way down your list of priorities.

TELLIT01

What has your bank said?  They will need to investigate and assuming they determine you took all reasonable steps to protect the information they will generally reimburse the loss.

licha4531

Thanks, they are currently investigating.

It’s not a breach of their security or a direct hack, someone has acquired my login details. So yes I have probably had some part to play somewhere.

macman

If you revealed the login details to a third party, or stored them insecurely, then it's unlikely that your bank will compensate you for your losses.

eskbanker

licha4531 said:

It’s not a breach of their security or a direct hack, someone has acquired my login details.

How do you know this is how it did and didn't happen if you've only just found out and the bank has only started investigating?

Did you receive any notifications of changes to linked account, or any password changes, etc?

Ath_Wat

When you say they have gained access to your account and changed bank details, presumably that isn't your bank account? They have gained access to some other account and changed your bank details to theirs?

In that case I wouldn't think it is the bank's problem.

km1500

Reading the OP "gained access to my account and updated bank details where I was due to receive my funds, diverting them to their own account" - I read this as not someone gaining access to the OP's bank account but to some other account which sends funds to them (paypal? ebay?) and updated the details so the funds are instead sent to the hacker's account??

screech_78

Sounds to me like a situation where there’s been a relationship breakdown and the (ex?) partner has accessed the OP’s bank account and updated the details.

If someone the OP knew had access to these details and they hadn’t taken steps to keep these confidential, then I don’t see why the bank should have to suffer any loss. 

screech_78

Ath_Wat said:

When you say they have gained access to your account and changed bank details, presumably that isn't your bank account? They have gained access to some other account and changed your bank details to theirs?

In that case I wouldn't think it is the bank's problem.

Yes, you could be right. Think I’ve misread but the OP really needs to clarify. Regardless though, I can’t see it being the bank’s issue. 

TELLIT01

I must admit that when I read 'scam' I made assumptions.  Further reading makes me doubt those original assumptions but we do need more detail from the OP to clarify.

If, as seems likely, the OP gave a third party access to their account and that person changed the bank details, it becomes a criminal offence and needs to be reported to police