Boss of taxpayer backed RBS reportedly says fraud victims ‘should not expect refunds’

Ross McEwan, chief executive of RBS, who has reportedly warned that victims of bank fraud should not

Ross McEwan, chief executive of RBS, who has reportedly warned that victims of bank fraud should not expect automatic refunds. Mr McEwan insisted it was not the responsibility of banks if customers gave their account details - or money - to online scammers, and said it would be too costly to cover all the losses, according to the Daily Mail. Picture: Andrew Milligan/PA Wire - Credit: PA

The boss of the Royal Bank of Scotland has reportedly warned that victims of bank fraud should not expect automatic refunds.

Chief executive Ross McEwan insisted it was not the responsibility of banks if customers gave their account details - or money - to online scammers, and said it would be too costly to cover all the losses, according to the Daily Mail.

He told the paper: 'We are working very hard to help customers detect when there are difficulties, but I think this has to be in partnership with the customer and with the bank.

'You can't keep blaming this on an organisation where customers don't take their own duty of care as well.

'When people are passing their iPads or laptops over with their passwords and the likes, there's got to be a care here, otherwise this will just become a major issue for all and the cost will pass through.'


You may also want to watch:


Financial Conduct Authority rules state banks must refund victims of fraud unless they can prove negligence.

A spokesman for RBS, which owns NatWest and is still 72% owned by the taxpayer, said where a customer has suffered loss, their situation is reviewed, the facts are established and a decision is made on a case-by-case basis.

Most Read

Earlier this year it was revealed that more than 150 Royal Bank of Scotland and NatWest branches were to be scrapped.

Become a Supporter

This newspaper has been a central part of community life for many years. Our industry faces testing times, which is why we're asking for your support. Every contribution will help us continue to produce local journalism that makes a measurable difference to our community.

Become a Supporter
Comments powered by Disqus