FSA breaks mystery shopper promises

The Financial Services Authority (FSA) has not used mystery shoppers for at least 18 months, despite a promise from Hector Sants that the regulator would make more use of the tactic.

A freedom of informaion request submitted by the BBC found no mystery shopping exercises had been carried out since March 2010. In 2010, FSA chief executive Sants, said he would step up mystery shopping exercises. Consumer groups said they found the news "surprising". "It is a little surprising that the FSA hasn't placed more of an emphasis on mystery shopping, which can be a useful tool in identifying consumer detriment," Sarah Brooks, director of financial services at Consumer Focus, told the BBC. "We accept that mystery shopping may not provide the hard evidence needed for en...