This article was published in Solicitors Journal on 3 May 2016.
Online banking fraud is becoming more sophisticated, causing large losses to individuals and companies. Unsurprisingly, the number of cases against banks involving online fraud is increasing.
In March, Sir Bernard Hogan-Howe, head of London’s Metropolitan Police, suggested banks should not fully refund victims of fraud who have not protected themselves. Whilst not universally well received, his remarks are a reminder that there is no guarantee of a bank refund. So, if it is not forthcoming, what steps can be taken to recover money?