Bank scam mindset: market differentiator or P&L exercise? #banking #riskmanagement #business

When friends or family members affected by scams, particularly authorized scams where they have unknowingly transferred money to criminals, are asked about their experiences, they often feel embarrassed and reluctant to discuss it. This reluctance leads to underreporting of such incidents.

Responses from organizations vary. Some prioritize customer care, viewing it as a key aspect of their market differentiation and an opportunity to establish trust. Others focus strictly on profit and loss, taking no accountability and placing the blame on the customer.