Mandatory refund of up to £85k for APP fraud

Rob5342

M25 said:

poshrule_uk said:

M25 said:

No personal responsibility at all, then? A crazy route to go down.

How will stupid people learn?

Is someone's with dementia stupid?

ALL stupid people. Banks aren't health or mental well-being care providers.

I think we all know most people who are scammed have acted stupidly.

So if a close relative of yours was scammed out of £25,000 would you be arguing that the bank shouldn't refund them? 

Ergates

hoc said:

Could this be a scam? Are you sure? Did someone ask you to transfer? Are you certain you want to transfer? Stop think it could be a scam? Why do you want to transfer?

Banks already that, and people still fall for obvious scams.

Ergates

HillStreetBlues said:

At what point is there an end to "free banking" as we currently know it? 

I feel that the unintended consequences of this will be wide-reaching and negatively impact a lot of us.

TheBanker

M25 said:

poshrule_uk said:

M25 said:

No personal responsibility at all, then? A crazy route to go down.

How will stupid people learn?

Is someone's with dementia stupid?

ALL stupid people. Banks aren't health or mental well-being care providers.

I think we all know most people who are scammed have acted stupidly.

That's not true, and it's not helpful to say that. Some people who get scammed are stupid I'm sure. Some are greedy. Others aren't. I have seen bank employees get scammed. I have seen a police officer get scammed. Saying it only happens to the stupid causes people to let their guard down, because most people don't self identify as stupid.

In the past, a bank's only obligation was to make sure a transaction was properly authorised and didn't break any laws. Customers whose transactions were blocked or delayed had a legitimate complaint. In the same past, a customer who signed an agreement for a loan or insurance product was 'fair game', even if they did not understand what they were signing up to, even if they had been deliberarly misled by the sales person.

The world has changed now. 

Rob5342

TheBanker said:

M25 said:

poshrule_uk said:

M25 said:

No personal responsibility at all, then? A crazy route to go down.

How will stupid people learn?

Is someone's with dementia stupid?

ALL stupid people. Banks aren't health or mental well-being care providers.

I think we all know most people who are scammed have acted stupidly.

That's not true, and it's not helpful to say that. Some people who get scammed are stupid I'm sure. Some are greedy. Others aren't. I have seen bank employees get scammed. I have seen a police officer get scammed. 

In this story there is a lecturer in financial markets who got scammed.

https://www.google.com/amp/s/www.bbc.co.uk/news/articles/cy94vz4zd7zo.amp

M25

It doesn't matter what someone's job is or anything else about them, it's about their actions.

Are we not responsible any more for our actions? No liability or responsibility? Do we want to be treated like 5 year olds? Yes, it seems so.

It's already annoying using banking with one time passwordss and PINs and these new restrictions (that's what it'll be) will make banking even more annoying.

There was a story on the news about a 'computer expert' who was scammed. He had made disastrous choices (£150,000 loss) and made decisions he should be responsible for. His bank -ie us- will now pay for his stupidity. The interviewer failed to ask him if he thought he was to blame.

The regulations also sound like fraudsters' paradise. Whiplash claims without leaving your computer chair.

friolento

Rob5342 said:

TheBanker said:

M25 said:

poshrule_uk said:

M25 said:

No personal responsibility at all, then? A crazy route to go down.

How will stupid people learn?

Is someone's with dementia stupid?

ALL stupid people. Banks aren't health or mental well-being care providers.

I think we all know most people who are scammed have acted stupidly.

That's not true, and it's not helpful to say that. Some people who get scammed are stupid I'm sure. Some are greedy. Others aren't. I have seen bank employees get scammed. I have seen a police officer get scammed. 

In this story there is a lecturer in financial markets who got scammed.

https://www.google.com/amp/s/www.bbc.co.uk/news/articles/cy94vz4zd7zo.amp

Your link doesn’t give much detail about the lectuer’s case though it strikes me as a mystery why someone who lectures others in financial markets would download software because a stranger asks them to do so. I wouldn’t be surprised if she admitted (obviously not to the bank and the FOS) it was stupid to do so. 

HillStreetBlues

friolento said:

Rob5342 said:

TheBanker said:

M25 said:

poshrule_uk said:

M25 said:

No personal responsibility at all, then? A crazy route to go down.

How will stupid people learn?

Is someone's with dementia stupid?

ALL stupid people. Banks aren't health or mental well-being care providers.

I think we all know most people who are scammed have acted stupidly.

That's not true, and it's not helpful to say that. Some people who get scammed are stupid I'm sure. Some are greedy. Others aren't. I have seen bank employees get scammed. I have seen a police officer get scammed. 

In this story there is a lecturer in financial markets who got scammed.

https://www.google.com/amp/s/www.bbc.co.uk/news/articles/cy94vz4zd7zo.amp

Your link doesn’t give much detail about the lectuer’s case though it strikes me as a mystery why someone who lectures others in financial markets would download software because a stranger asks them to do so. I wouldn’t be surprised if she admitted (obviously not to the bank and the FOS) it was stupid to do so. 

The trouble with most reporting about fraud of this type is everyone knows all banks are evil so they're always in the wrong. As banks have to follow privacy laws there may be little they can say, but a customer is free to tell their abridged side of the story

MattMattMattUK

Awful idea, we need more personal responsibility not less, especially so when the cost of things gets passed onto the rest of us.

GeoffTF

MattMattMattUK said:

Awful idea, we need more personal responsibility not less, especially so when the cost of things gets passed onto the rest of us.

I expect that most of the cost will be passed on as lower savings rates and higher borrowing rates. If you do not borrow from the banks and keep your balances low, you are not likely to be hard hit. Nonetheless, it is going to make it more difficult to move money, and that has a direct cost if it results in delayed payments.