CHOICE recently released a new report, Passing thebuck: How businesses leave scam victims feeling alone and ashamed, based on a survey of 280 victims of debit card or bank transfer scams.
The survey found that, in addition to being left feeling alone and ashamed, victims are also carrying the burden of scams. 61% of respondents said they had lost confidence in doing financial transactions online, while the businesses enabling the criminal activities of scammers face virtually no consequences.
Businesses like banks, telcos and digital platforms, with the resources to detect, prevent and respond to scams, are not doing enough to protect consumers. Just over half (51%) of respondents said the scammer had contacted them through a website or social media, and 81% said their bank failed to warn of a…
