UK Banks are twice as likely to refund white fraud victims than black complainants, according to data from the financial ombudsman. An analysis of 1,300 customers who complained about not receiving refunds within the last two years demonstrated that 6% of complainants were black, despite this group constituting just 3% of the population. The figures come amid a growing debate over how banks should respond to complaints against their customers. Of complaints to HSBC, 33% came from non-white customers. At Nationwide, the figure was 19%. Analysts claimed the figures demonstrated institutional racism, but the British Bankers’ Association rejected the allegations.
UK Banks are twice as likely to refund white fraud victims than black complainants, according to data from the financial ombudsman. An analysis of 1,300 customers who complained about not receiving refunds within the last two years demonstrated that 6% of complainants were black, despite this group constituting just 3% of the population. Asian customers, “other ethnic groups” and mixed race customers were also less likely to receive refunds. Of complaints to HSBC, 33% came from non-white customers. At Nationwide, the figure was 19%. Analysts claimed the figures demonstrated institutional racism, but the British Bankers’ Association rejected the allegations.