I work in the financial sector and every time we have afraud committed against a card holder we simply refund them. We do not report any fraud under £5000 to the police as they have told us they do not investigate minor fraud. This includes 3 x £4,999 (even though the total fraudis more than £5,000)
This makes card small scale cloning and theft an investigation-free crime. If someone steals your purse it's a crime but if they mis-use your card they are not even chased by the police. No wonder card-fraudis now a bigger criminal industry than the drugs trade.
Is the reason that there is no investigation because the banking class and their political friends want financial fraud to be punishment free so they can continue to engage in the activity that caused the financial crisis?
Does anyone know why the banks are just being asked to write off low-scale card fraud (thinking of Target here and how there will beno prosecutions) Is it time to increase the penalties for financial crime so that they match drug trafficking?