Banks 'fob off' many fraud victims

Too many victims of card fraud are being fobbed off by banks and card providers who refuse to issue refunds because chip and pin was used in the transaction, the ombudsman service has said.

Complaints about refusals to pay out on a card fraud are up by around a third year on year, according to the Financial Ombudsman Service (FOS) which resolves disputes between financial institutions and their customers.%VIRTUAL-SkimlinksPromo%