Deterents against fraudsters

[1595223802]

Why do financial companies spend so much time disbelieving inocent victims and so little, if any, on deterring fraudsters, even when known to the police?

[Ethel]

Do they?

[1595223802]

From my experience todate they do, but I'mmcurrently putting some to the test

[dzug]

Because it's actually very difficult to tell the difference between an innocent victim and a fraudster

[Ethel]

Sadly more than 70% of reported 'fraud' is the customer trying it on.

It makes it very difficult for genuine victims of fraud.

[1595223802]

Surely for the ones of the 30% who plead guillty at court, some robustness could be exercised by defrauded companies, or is it just too easy to claim off insurance every time.
I think there must be some merit in the idea for a professional fraud inveastigator to be allowed to be quoted,by name, in a Sunday newspaper, advocating the idea of a robust approach as a deterent against fraud. He didn't go into detail, but I'm thinking uf ways and looking for any rare examples. Unfortunately I've misplaced his name and don't think I can contact him, otherwise I would

[dzug]

Well a 'robust' approach would affect the victims just as much

[1595223802]

Victims are not brought to court! It's the ones who plead guilty I'm talking about for robust treatment

[factor-fiction]

For those who plead guilty in court then it's up to the court isn't it to decide on the sentence. I'm not sure how the financial companies can do more in such cases. Can you explain?
Anyway i think the problem is with those who don't plead guilty or can never be traced. Online fraudsters are almost impossible to track down- they can make rogue transactions at an internet cafe and pick items up. Sometimes they make many transactions and then only collect at a few places so even if the authorities try to catch them in the act of collecting they usually slip through the net.

[1595223802]

I have been the victim of Internet fraud to the value of �24.5K and readily accept that my bank probably CAN'T DO MUCH to identify the fraudster(They could however improve their protection by adopting a card reader,as with most others)
However I also have had my ID stolen and the thief, who profitted by a similar amount, before PLEADING GUILTY to her fourth theft, I am advising the companies she setup accounts in my name, that she will, regardless, HIT THEM AGAIN, not likely to be successful in my name, but someone else's less protected - UNLESS THEY TREAT HER ROBUSTLY
A serial fraudster will have it in their blood and I think it is dispicable for financial companies to sit back and let it happen again and again, letting insurance take the strain
I appreciate this known fraudster scenario does not reflect the majority of cases

[factor-fiction]

Treat her robustly? I'd be interested to know what you think the financial company should do in order to treat her robustly. She will no doubt have multiple identities.

Card readers will help but I know a lot of people won't want them and fraudsters will probably find a way round them.

[1595223802]

I thought you were supposed to be the one answering, not asking
I'm sure companies can think of ways, if its only writing a stinging letter