I contacted my bank to report a scam purchase. Why didn’t it cancel the transaction?

Banks often balk at canceling scam transactions where they are technically authorised by you, says Kat George. Photograph: Peter Dazeley/Getty Images

I contacted my bank to report a purchase as a scam when, on viewing my bank record immediately after the transaction, I saw that it was a pending payment to an overseas account. (I had bought what I thought were legitimate products – linen, towels etc – through known Australian outlets.)

The bank refused to cancel the transaction and subsequently requested documentation, such as receipts, that I could not obtain. I understand that very few scams are addressed, but if the bank had acted immediately I would not have lost my funds.