Scam victims who receive a penny of ‘interest' on their fake investments are being denied refunds by banks which refuse to consider it fraud.
Instead, they argue the matter is a ‘civil dispute' which is not covered by a voluntary scam reimbursement code. This promises to refund those tricked into making bank transfers to fraudsters, often posing as legitimate firms.
Money Mail has also heard of instances where police have refused to investigate scams on the same grounds.




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