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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 31300
Experience:  Over 5 years in practice
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If a bank's security measures are not robust enough

Customer Question

If for example a bank's security measures are not robust enough and someone's savings are completely removed by a third party or scam, does the bank owe the customer any compensation; assuming their account is say a simple current account with no extras or investments, ISA etc? Is there a finacial limit beyond which the bank must reimberse the customers lossers?
Submitted: 1 year ago.
Category: Law
Expert:  Ash replied 1 year ago.
Hello my name is ***** ***** I will help you with this.I assume the bank did not know that the customer was transferring for a scam please?Alex