Lord McFall of Alcluith
Main Page: Lord McFall of Alcluith (Lord Speaker - Life peer)Department Debates - View all Lord McFall of Alcluith's debates with the Cabinet Office
(3 years ago)
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Lord Agnew of Oulton (Con)
My Lords, it is extremely difficult to get the balance right, because the banks are damned if they do and damned if they do not. I am sorry the noble Lord had personal difficulties in that situation, but if it had been a fraudulent transaction with large sums lost, I think he would have been even more upset. We have to err on the side of caution. The banks need to improve their ways of intervening and use artificial intelligence to be more effective and not go after false alarms.
The Lord Speaker (Lord McFall of Alcluith)
My Lords, the time allowed for this Question has elapsed.