Why should banks have to refund?

I’m never sure about compensation for things like this. I know people who got thousands back in PPI compensation, but they had signed for the insurance, had the cover (which they may have had to claim on) and had whatever they bought with the credit for years before those who saved to pay cash would have done.

There was another scam regarding PPI a few years ago. Someone rang (from India I think), saying my DH was due a refund of PPI on a loan he'd taken out. As he'd not, to my knowledge, taken out a loan and he was standing next to me looking puzzled!, I knew it was probably a scam but I did keep the poor man running back and forth to his manager to get answers to my questions. He shouldn't have been discussing DH's finances with me anyway.

The best thing is to put the phone down, of course.

www.bbc.co.uk/news/articles/cq8vnq1eq3po

But I do feel that the scammer should get more than a suspended prison sentence.

I agree with you.

I've noticed that every time I go to make a transaction online now, a message pops up asking if i am sure and warning me it could be a scam.
Fair enough, I recently had to make a large transaction by debit card as it was above my credit card limit and the credit card company refused to increase my limit even on a temporary basis (seems to be a common occurrence).
Since then the warnings have appeared.

However, it seems your friend ignored all warnings so no, others should not have to pay for her foolishness.

Jeez, reading stories like this makes me glad I’m not much to look at and have a very small bank balance.

Re ppi, our business was struggling and took out a loan with our bank. Was told by the manager I had to take out an insurance. I questioned this as we already had a policy but he made it clear it was compulsory. It was clear mis-selling.

It always astonishes me how stupid these people are, to give money to someone whom you have never met!
To have not heard of these scams you must have been living under a rock.

I do not think in these circumstances compensation should be given.

A fool and his money…………

I think we’d need to get the other side of the story, but on the face of it, it sounds as though the banks did all they could be expected to do.

I’m never sure about compensation for things like this. I know people who got thousands back in PPI compensation, but they had signed for the insurance, had the cover (which they may have had to claim on) and had whatever they bought with the credit for years before those who saved to pay cash would have done.

I think that if people are misled, or if banks are aware that customers are buying finance on depreciating assets or unnecessary insurance but go ahead anyway as they (the banks) are profiting, then yes, compensation is deserved. When people opt into paying for things from which the banks don’t benefit, however, I’m not sure that the banks have a duty of care, as they provide what is essentially a free (or very cheap) service that doesn’t provide financial advice.

(I know that they invest our money etc . I mean free at point of use.)

I would go by the circumstances involved as to how the thief managed to steal the money exactly. I would guess the £11,000 represents the first amount he stole from her - and so they "gave the benefit of the doubt" about that and then, subsequently, thought she should have realised by then.

I would tend to take the attitude of assessing the circumstances if I were the bank - eg had it been a one-off phonecall or email from a thief and most people would have clicked it wasn't a normal person and there's so many of these thieves around and it's probably pretty standard to have several thieves contact us all every darn week. So I'd say banks should continue refunding for one-off payments that could have been stolen in all innocence from the victim - as otherwise we'll all lose whatever trust we have left in the banks to protect our money and start looking for alternatives to them. It's pretty easy to swop bank if one of them started being "awkward" and I've been with my own bank for quite some years now and I stick with them - because I'm satisfied (basically) with the service from them. They had just one hint I was considering leaving them - when they sent me through new cards that were contactless variety - and I promptly rang them and asked them if I was swopping to another bank and told them that I would do so if they didn't send me replacement old-style cards. They did so - so they kept me as a customer. I would have left them if they hadn't.

Re the "romance scammer" - these guys do seem to zoom in particularly on women of the sort of age where it's striking home hard that they seem to be losing their looks (if they had some - ie were attractive/beautiful/pretty). Understandable that a formerly attractive etc woman would want to think "Maybe I've still Got It".

The best thing you can do to prevent the risk of your friend attracting another scammer is to help her with making the best of whatever looks she has left, point out other women in the same agegroup (some as examples of how well they're managing to hold onto any looks they had.....and the rest to prove that ageing looks comes to the best of us and we don't look like "ourselves" any longer...darn it!). It is very hard mentally to accept our looks are being taken off us by Mother Nature - but it's clear it happens to 99% of those who have any. Point out "If it can happen to Brigit Bardot even - then it certainly can to yer-ordinary-woman-in-the-street". Or one I used to think was extremely attractive - ie the singer Debbie Harry (but, if you look at her now, she is still recognizable as herself.....but eyes are tired/waistline is thick/etc).

(Shows just how common thieves are that I got a phonecall from a thief in the middle of typing this....!!!! Phone slammed down the second I heard an automated voice lying to me).

I agree with the bank's decision in this case too.

Whether they are gullible, vulnerable or just plain stupid, they are a victim of crime, therefore despite all warnings banks will often refund.

And I don't think the bank does have to refund it as it had given so many warnings.

I also agree in these circumstances.

Well, I agree with you in these circumstances. Your friend must have been desperate to have given this man her inheritance, despite warnings from the bank. There are many gullible and naive people around.