
UK police chief advises banks not to compensate online fraud victims - twoshedsmcginty
https://thestack.com/security/2016/03/24/bernard-hogan-howe-do-not-compensate-online-fraud-victims/
======
anexprogrammer
Sir Bernard Hogan-Howe must have forgotten _why_ the presumption of innocence
and requirement to refund was introduced in the 90s. Or he's an idiot.

Thousands were having money going missing and the banks generally tried to
blame the account holder. Refunds were rare.

It was later discovered to be extremely widespread, and of a seriousness large
enough to bring down the banking system if it became more widely known.

The flaws in the systems were never closed, btw. The introduction of chip and
PIN made the exploit no longer possible, at which point more information came
out.

The Register has a pretty good write up here:
[http://www.theregister.co.uk/2005/10/21/phantoms_and_rogues/](http://www.theregister.co.uk/2005/10/21/phantoms_and_rogues/)

