Black victims of fraud are more than twice as likely to be denied a refund by their bank as white customers, according to figures seen by The Times. More than a fifth of people who complained about not getting their money back were from ethnic minorities, even though they make up only about 10 per cent of the population. Ethnic minorities also appear less likely to be reimbursed at some banks than others, according to a survey of complaints to the ombudsman. The figures suggest that banks are “institutionally racist”, according to an eminent fraud expert. Ross Anderson, professor of security engineering at the University of Cambridge, said: “Bank staff have the same prejudices as the general population. If you think ethnic minorities are
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 the British Bankers’ Association, 33% came from non-white customers. At Nationwide, the figure was 19%. Analysts claimed the figures demonstrated institutional racism, but HSBC rejected the allegations.