Financial fraud victims 'not guaranteed' compensation

26 June 2009

A number of financial fraud victims do not get their money reimbursed, it has been suggested. 

Research from Which? shows that one in five victims are not reimbursed for their loss and urges people to be vigilant when using their plastic cards. 

"Most of us know that we shouldn't write down our pin, but we should also shred bank statements, be cautious about the passwords we use and think twice before posting personal details online," advised Martyn Hocking, Editor of Which?. 

It is estimated that one in four people has been the victim of financial fraud and that they should get their money back providing they have not acted negligently. 

Another recent study by Which? found that most major credit card providers have put up interest rates and charges in the last 12 months.

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