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Met police commissioner: Fraud victims should not be refunded by banks

werdsmith Silver badge

His comment:

"I don’t suppose I’m much different to anyone else but I guarantee if someone said to me if your card is done or something happens online I’ll give you nothing back, you’d change your behaviour."

Yes, I would stop using the card completely and immediately close the account.

The reason that banks refund fraud losses is to prevent loss of confidence in the system, it's cheaper to pay for a few losses than to lose business and possibly cheaper than finding a stronger security process that doesn't inconvenience every customer.

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