Make banks and challenger banks give weekly updates on cases of fraud or theft

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Make banks and challenger banks give weekly updates on cases of fraud or theft

Petition Details

We are looking to make it a legal requirement that financial institutions, mainly banks and challenger banks, provide weekly updates on how a case of reported fraud, theft or cyber crime is progressing to the customer and to Action Fraud UK.

Additional Information

My sister lost nearly £1000 using a challenger bank when her account was hacked and the funds withdrawn to a UK bank. After 10 days of ‘looking for an agent’ in live chat and countless ‘the specialist team will be in touch’ nothing has happened to resolve this issue. It already takes up to 45 days for Visa or MasterCard to conduct a chargeback. The return of the funds should not be delayed further by financial institutions dragging their heels.

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