UK Banks planning to wriggle out of fraud compensation

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Not content with not passing on low Bank of England interesting rates like the petrol companies and pump prices.  The banks want us to pay for the cost of fraud whilst removing thousand of branches around the country.

Brits who use online banking services vulnerable to criminal hackers could be made liable for financial losses stemming from theft, as intelligence officials, central bankers and Downing Street seek to shirk responsibility.

The potential policy shift could see firms or individuals with poor online security left without compensation if their bank accounts are hacked. Customers vulnerable to hacking could also be locked out of vital online banking services under the proposals, the Financial Times reported on Wednesday.

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