This is an interesting question about human behavior. Today, most online fraud is refunded by the banks. So rarely, users (victims) have to pay for their behavior. Up to a given point, this makes sense as you do not want to have too many people visiting your physical branches – it is less expensive covering the fraud. However, like that people to not feel the pain for their behavior, which does not help to change it.
So, what shall banks do? London police chief Sir Bernard Hogan-Howe seems to be clear: Don’t refund all online fraud victims: It only encourages their sloppy security, says police chief
What is your take?
- Met police chief tells banks to stop refunding online fraud victims (information-age.com)
- Police: if you fall victim to online fraud, it’s your own fault (betanews.com)