Question to the HM Treasury:

To ask Her Majesty's Government whether all regulations relating to the actions that banks are legally required to take when there has been unauthorised or fraudulent activity on a customer’s account also apply to building societies.

Banks and building societies are both regarded as credit institutions under the EU Capital Requirements Regulation. As such, where there are obligations for unauthorised or fraudulent activity in relation to a credit institution, these apply equally to banks and building societies, unless stated otherwise.

Every industry has a role to play in protecting themselves and their customers from fraud - from keeping their customers’ personal and card payment details safe, to ensuring they have adequate mechanisms in place to spot and stop fraudulent transactions. The scale of fraud requires a unified response with the private sector, particularly the banking industry, retailers, telecommunications industry and social media companies.