News

Poll: FIs quick to replace customer funds lost to fraud

January 26, 2018

An informal online poll conducted by the European Association for Secure Transactions has revealed that banks are prompt, for the most part, in crediting funds back to customers whose accounts have been subject to fraud.

The poll, which ran from September through December, found that more than two-thirds (77 percent) of fraud victims were reimbursed within a week of the discovery of their missing funds. Of this group, nearly one-third actually had funds restored the same day.

The current poll by EAST asks: If you have been contacted by your bank about suspicious transactions, and/or your account was blocked for the same reason, how did you feel?

Anyone can take the poll, which can be found on the EAST website.