WENDY KNOWLER: Beware the digital wallet gambit
Fraudsters are using these payment services to mine victims’ credit cards — and the banking ombud has told banks they are liable
Fewer than one in four complaints lodged by aggrieved bank customers with the Ombud for Banking Services (OBS) are resolved in favour of the customer.
The sad reality is that most complaints arise because of fraud, and if the customer is found to have been duped into giving a fraudster access to their bank account, the ombud’s office can’t hold the bank liable. Not unless the bank could have prevented the fraudulent transactions from happening had it acted promptly when the victim reported it. ..
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