It’s just another number on a spreadsheet for them and another cost to pass onto their loyal customers.
My experience not about social engineering scams but banks’ general culture of writing it all off rather than investigating.
A year or two ago my other half had fraud on every account due to a colleague taking pictures of all her cards and using them online (can that even be called ‘cloning’ when it is so simple?). They got about 3-4 thousand pounds in goods and services before the 3 day delay in transactions started appearing and it continued to show up after cancelling them all.
She had to make a lot of phone calls and was anxious that banks might question or investigate whether it was her or a fraudster, and she was expecting a police investigation.
Not a single raised eyebrow on the banks’ customer service end. All quite helpful as if they deal with it every hour of the day. They just take down all the fraudulent transactions you are claiming, put in a reason on the system and revert all the charges, but they state their fraud team will now investigate and they may revert it back if they find it isn’t fraud. At the point of putting the phone down the whole thing feels gone with the wind as you suspect this fraud team are busy elsewhere.
If the bank had taken it more seriously it may have stopped the fraudster but o/h found out months later that more people at her work had been done afterwards in the same way and the suspect had left the company, prob to do fraud elsewhere.
It’s strange because if you called an insurance company to say someone has stolen my diamond rings, they wouldn’t just transfer £3000 to you. They would demand crime numbers and send their investigators round to quiz you and then still try to find a technical reason to not pay out. Banks just write it off along with all the other billions of pounds of LIBOR rigging and PPI scamming charges they are passing on to their loyal customers.