Better compensation for scam victims from banks

New commitments by banks mean if a bank fails to adequately warn and protect a consumer from a scam, they will reimburse the victim up to $500,000. Photo/ Richard RobinsonBanks have responded to the Government’s expectation to better protect their customers from scams by introducing stronger safeguards and a compensation scheme, Commerce and Consumer Affairs Minister Scott Simpson says.“New commitments from banks mean that if a bank fails to adequately warn and protect a consumer from a..