Protecting vulnerable customers

Which of the following is not a vulnerable customer category listed?

The elderly

Those with a cognitive disorder

Those suffering from a mental health difficulty

Under-16s with a cash card and linked account

Which type of crime has risen significantly during the pandemic and who does it particularly target?

Online scams and the elderly

Identity fraud for pension theft from the elderly

Cashpoint theft and the disabled

Online scams and young buyers

What has the Financial Conduct Authority not imposed fines for?

Poor handling of complaints

Repeat instances of companies having their networks hacked

Unfair treatment of customers

Poor handling of arrears

What has the Central Bank of Ireland not stated insurance companies must do?

Display key information about Covid-19 and cover, prominently

Communicate proactively about levels of cover required

Enforce payment of premiums or cancel the policy entirely to prevent insolvencies

Have processes in place to engage with customers finding it difficult to pay their premiums

What is the purpose of the vulnerable customer forum?

To understand numbers of vulnerable customers

To understand whether the proportion of vulnerable customers poses a material risk

To single out vulnerable customers for enhanced customer service

To enable members to adopt a best practice approach for customers finding themselves in vulnerable circumstances

Which of the following is not a key consideration for identifying and assisting vulnerable customers?

Do you invest in staff training on this matter?

Do you employ enough people who would class as vulnerable themselves to help you?

Do you have a clear definition of vulnerable customer?

Do you have an active approach to customer behaviour monitoring?

Which of the following do companies not need to analyse to identify where vulnerable customers might be affected?

Processes

Products

Geographies

Customer journeys

Which of the following is not a step in a vulnerable customer framework?

Redress

Detective

Proactive

Reactive

Which of the following should companies not need to consider when enhancing their vulnerable customer framework?

Ownership

Record-keeping

Strategy and policy

Capital at risk

Which of the following is not a record-keeping consideration for companies to consider when enhancing their vulnerable customer framework?

Does your record-keeping system allow for periodic vulnerability review?

Do you use a risk score for vulnerabilities?

Are your management information metrics aligned to risk and control assessments?

Do you capture a sufficient level of detail about vulnerabilities?

Protecting vulnerable customers

Which of the following is not a vulnerable customer category listed?

Which type of crime has risen significantly during the pandemic and who does it particularly target?

What has the Financial Conduct Authority not imposed fines for?

What has the Central Bank of Ireland not stated insurance companies must do?

What is the purpose of the vulnerable customer forum?

Which of the following is not a key consideration for identifying and assisting vulnerable customers?

Which of the following do companies not need to analyse to identify where vulnerable customers might be affected?

Which of the following is not a step in a vulnerable customer framework?

Which of the following should companies not need to consider when enhancing their vulnerable customer framework?

Which of the following is not a record-keeping consideration for companies to consider when enhancing their vulnerable customer framework?

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