Our investigation
We could not determine how the scammer obtained the codes. Hunter might have shared them, but it was also possible the scammer obtained them in some other way. We were not sure the bank could rely on its terms and conditions to decline to reimburse him in these circumstances because it wasn’t clear whether Hunter had shared the codes. However, the bank said Hunter had not taken reasonable care regardless because someone had called him out of the blue and he had not checked to ensure the caller was from the bank.
Outcome
The bank increased its offer to 50 per cent of the loss. Hunter accepted this revised offer.
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