Written Question·Treasury·UIN 195661
Credit: Fraud
Tabled: 1 September 2023
Answered: 7 September 2023
Question
Hilary Benn
Labour — Leeds South
To ask the Chancellor of the Exchequer, what security checks financial institutions are required to make for credit card applications in order to prevent identity fraud.
Answer
Andrew GriffithThe Financial Conduct Authority (FCA) is responsible for regulating the consumer credit market. FCA rules dictate that firms (including those offering credit cards) must have adequate policies and procedures in place to counter the risk that they might be...
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