Bank Fraud

HisRym0

https://forums.moneysavingexpert.com/discussion/comment/81965331#Comment_81965331

thank you - problem being is they are not really telling me anything. I spoke to the fraud side of the banking today and requested an update - nothing! i just have to sit and wait and hopefully i will get bored and bore off is the feeling i am getting. I have a face to face appointment tomorrow to hopefully discuss this further as i seem to be chasing my tail on the phone or chat lines.

grumpy_codger

https://forums.moneysavingexpert.com/discussion/comment/81965319#Comment_81965319

You could also pseudo-arbitrage - e.g. scammer bets on 'heads' on their account and 'tails' on yours, and repeats until the winnings are all on their account. In practice, given that Betfair is also the world's biggest exchange, it would be very easy to 'back' one outcome on a sporting event on one account and 'lay' the same outcome on the other account to guarantee one account always wins.

Ha-ha. OOT, but if you can do this you don't need to bet on 'tails' if you eventually lose there everything.

SiliconChip

It would help if you tell us which bank it is, some are better than others at dealing with fraud and members may be able to suggest strategies for dealing with particular banks.

born_again

https://forums.moneysavingexpert.com/discussion/6664387/bank-fraud

Under PSD (Payment Services Directive) the pending transaction should be removed as fraud. This means that your avaiable balance is back where it should be before the tranactions.

It could be that betting co's never fully processed the transactions, so they will never actually debit. As well as they would not talk to you about them, if you do not have any accounts with them GDPR.

So unless the transaction are showing in your accounts as debits, then there is nothing for the bank to do.

If they are showing & no refunds have been processed by bank then you need to speak to them to get them refunded, which would also cover any O/D charges.

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/81965405#Comment_81965405

OP said the transactions did debit the account.

Exodi

https://forums.moneysavingexpert.com/discussion/comment/81965375#Comment_81965375

Haha indeed, I was going to mention the Martingale strategy but didn't want to veer too far off-topic, though I suppose the difference is that the perceived risk in losing the OP's money is lower than their own. It would be safer as you suggest for them to just bet on heads and win 50% of the time, or easier still as you first mentioned, play poker and all in on losing hands on the hacked account.

FWIW while matched betting, I did see some victims of the Martingale strategy firsthand. I was doing minimum stake low volatility bets on roulette (common to meet wagering requirements for casino bonuses) and I witnessed 9 reds in a row. People were very 'unhappy' in the chat, the losses were great, gamblers fallacy was in full swing. I think the famous example is from the Monte Carlo casino where black appeared 26 times in a row causing millions in losses.

HisRym0

https://forums.moneysavingexpert.com/discussion/comment/81965393#Comment_81965393

HSBC

MisterMotivated

https://forums.moneysavingexpert.com/discussion/comment/81965427#Comment_81965427

I remember being up late one night channel-hopping and stumbled across a roulette show (think it was on ITV). I wanted to see how it compared to online roulette as I'd had a few tense bets with 6 or 7 straight losses while I'd been dabbling with Martingale strategy at the time. There were 13 in a row of the same colour. I decided at that point to abandon things and withdraw my balance from the casino site.