Ms MaryRose McGovern:

There may be fraud in the background, but ultimately the role of the FSPO is to investigate the conduct of the financial service provider. We are expecting there to see a level of responsiveness from the financial service provider that something has gone wrong. There may be nothing to be done as the money may be long gone but there is a provision under the payments services directive if a person's money has been transferred and if it has been an unauthorised transaction to reach in and try to get it back. That is an effort that the financial service provider can undertake only on a best efforts basis. We would expect that if a person comes to his or her bank fraught and believing he or she has been defrauded, the bank would act expeditiously. There may be nothing to be done but we would expect a level of service to a customer in those circumstances.