http://www.ft.com/cms/s/0/00095faa-7e24-11e4-b7c3-00144feabdc0.html#ixzz3LI7bT9Mk
An influential committee of MPs has asked the UK’s five leading high street banks to report on how they assemble fraud figures, in response to a claim that they understate the numbers by as much as half.
The Treasury select committee was told banks only report fraud if the money lost is irretrievable, neglecting to include large amounts of stolen funds that are recovered.
Andrew Tyrie, chair of the committee, which oversees financial legislation, has asked Barclays, HSBC, Lloyds, Santander and Royal Bank of Scotland for information about […]
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