4 ms·

And guess who is paying for her mistake? Everyone except the perpetrator. That bank refund comes from somewhere.

dtech 1y ago
In my country this is only possible if enough funds are in the target account (banks coorporate), it's not a general customer refund...
- graemep 1y ago
  In the UK if the funds cannot be recovered the bank takes the loss for push fraud. https://www.which.co.uk/consumer-rights/advice/what-to-do-if-you-re-the-victim-of-a-bank-transfer-app-scam-aED6A0l529rc https://www.which.co.uk/consumer-rights/advice/what-to-do-if... It has made banks very nervous about transfers as even payments to a legitimate business can be part of a a fraud (e.g. buy gold and hand it over to the fraudster for "safe keeping") and people have complained they have had problems making legitimate transfers.
  - Symbiote 1y ago
    It seems unfair to other customers of the bank to require the bank to "return" 75% of the money. This should be a matter for business insurance.
    - graemep 1y ago
      Small businesses will often not have business insurance, and private individuals will not. I doubt insurance covers this sort of thing though. ti is quite annoying getting "is this a fraud?" warnings on every transfer - even small amounts to my kids!
  - Ekaros 1y ago
    Oh, that really explains some stories I have heard about cars. That banks simply refuse some purchases from more independent sellers. Sometimes the fraud detection and avoidance can go too far.
    - graemep 1y ago
      I did not know about it as a problem with cars, but it makes sense that it is. It is likely to come up a lot with private sales. Banks are unlikely to let the seller deposit cash (because of money laundering rules), so if they do not allow a payment by transfer its going to become impossible.
fakedang 1y ago
Exactly, which is why banks are loathe to approve such transfers in the first place. I'm wholly surprised that the banking ombudsman is able to force such transaction reversals.
- retube 1y ago
  > wholly surprised that the banking ombudsman is able to force such transaction reversal They can't force transaction reversals or clawbanks. They actually force the bank to take the hit.

In my country this is only possible if enough funds are in the target account (banks coorporate), it's not a general customer refund...

graemep 1y ago
In the UK if the funds cannot be recovered the bank takes the loss for push fraud. https://www.which.co.uk/consumer-rights/advice/what-to-do-if-you-re-the-victim-of-a-bank-transfer-app-scam-aED6A0l529rc https://www.which.co.uk/consumer-rights/advice/what-to-do-if... It has made banks very nervous about transfers as even payments to a legitimate business can be part of a a fraud (e.g. buy gold and hand it over to the fraudster for "safe keeping") and people have complained they have had problems making legitimate transfers.
- Symbiote 1y ago
  It seems unfair to other customers of the bank to require the bank to "return" 75% of the money. This should be a matter for business insurance.
  - graemep 1y ago
    Small businesses will often not have business insurance, and private individuals will not. I doubt insurance covers this sort of thing though. ti is quite annoying getting "is this a fraud?" warnings on every transfer - even small amounts to my kids!
- Ekaros 1y ago
  Oh, that really explains some stories I have heard about cars. That banks simply refuse some purchases from more independent sellers. Sometimes the fraud detection and avoidance can go too far.
  - graemep 1y ago
    I did not know about it as a problem with cars, but it makes sense that it is. It is likely to come up a lot with private sales. Banks are unlikely to let the seller deposit cash (because of money laundering rules), so if they do not allow a payment by transfer its going to become impossible.

fakedang 1y ago

Exactly, which is why banks are loathe to approve such transfers in the first place. I'm wholly surprised that the banking ombudsman is able to force such transaction reversals.

retube 1y ago
> wholly surprised that the banking ombudsman is able to force such transaction reversal They can't force transaction reversals or clawbanks. They actually force the bank to take the hit.