>> dataprotectioncompany.co.uk/8-dpc-news-articles/918-santander-fraud-victims-reveal-how-their-lives-have-been-shattered.html
>>
>> "Santander has told them it is under no obligation to contact customers or stop payments
>> — even if they look suspicious.
To be fair that article is from 2017 and the rules on refunds for fraud have changed significantly with many banks having signed up to a "voluntary scheme" to refund fraudulent transactions.
I have added quotes above because whilst the scheme is voluntary, I suspect the banks were put under threat of a major court case or new legislation.
Also the banks are under an obligation to stop transactions that look suspicious and are obliged to report them to the police under anti-money laundering regulations. Of course it depends on the level of suspicion and in one of the cases above, calling the customer and not getting an answer because they didn't pick up would have the affect of stopping the transaction where I work, or at least it should.
Mind you, I reported a fraud on an approx. £1m lend in February 22 and got a call from our Fraud team earlier this week about it as they didn't understand why it was fraudulent!!!
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Data breach new
Data breach new