Which?: 78% of people want bankers prosecuted

2 July 2012

Some 78 per cent of people think individuals should be prosecuted if banks break the law.

This is according to a study by Which? and it highlights how little confidence consumers have in the sector at present.

Two-thirds of those questioned do not think the government will act in the best interests of the country when implementing reforms, while only 20 per cent believe the Financial Services Authority is an effective watchdog.

Which? chief executive Peter Vicary-Smith said: "Consumers are clearly fed up with one banking scandal after another. Banks and bankers will continue to be seen as untouchable unless individuals are held to account for their actions."

He added the perception at the moment is that the fines do not act as a big enough deterrent.

Mr Vicary-Smith went on to note criminal prosecutions have to be introduced in order to deal with anyone who is flouting the law.

Posted by Claire Archer

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