201–210 of 224 posts
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Explain yourself. What is infantile in what you read.
"The solution's easy, I could solve it immediately if only people would listen to me" - Person With Absolutely Zero Experience In The Field.
Which is simple but is very different from calling it easy.
The NECC's Reed said another problem was that just 1% of policing resources were dedicated to fighting fraud, despite it making up over a third of all crime in England and Wales. Is at least one major cause of the problem. The police and government's response has been pathetic. This is not a new thing either, it's been going on for years.
This is a question of who is allowed non-in-person banking. And a few technology tweeks (getting rid of number spoofing). And education but that's a bit of a lost cause.
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It's not just old people. Plenty of young tech savvy people fall for these scams as well. The scammers are extremely well practiced, and are extremely good at using misdirection and pressure cooker situations to make it extremely difficult for people to recognise the scam in the moment. Some of the scariest aspects of these scams is that they frequently use the banks own fraud protections and alerts against victims,…
It's tempting fate to say it, but I've not fallen for a scam, or a phishing attempt, and I've been subjected to many. Natural distrust and cynicism perhaps. I don't answer the phone to unknown numbers, I don't click links in emails, I don't do business at the door or over the phone, and I don't believe anything other people tell me (can report that my girlfriend hates this aspect of my personality). The head of accou…
So if the situation is right, almost anyone can fall for it (Gorilla on basketball court experiment)
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US credit card companies aren't any better. I recently had a similar "fraud alert." The company ditched travel notices in 2016 claiming their AI was good enough to replace it. A few weeks after traveling I had a very small purchase flagged (under $20 at a place like Target). When I called the number they asked me for my complete credit card number, social security number, they didn't know my phone number or email and…
Incidently for those with a VPN installed on their phone do not use your banking app while the VPN is running. The current "We don't need you to tell us where you're going we can figure it out" leads to me getting locked out 100% of the time i use the banking app on my phone with the VPN on and then try to use the card at a nearby store. Obviously there's two different sources of my location incoming and that causes…
One large bank I do business with doesn't care, or recognizes that pre-'rona I used to do a lot of international travel.
Another large bank I do business with locks me out if I'm on VPN.
I also suspect it has to do with bank balances. The more money I have in my accounts, the better customer service I get, even to the point of them answering the phone more quickly.
It also seems to help to have a business account with a bank, too. I get all kinds of free perks on my personal accounts with the bank I do my business banking with.
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I guarantee that experience wasn't with American Express. My experience has been that Chase has invested heavily in automated fraud management /and/ that it works reasonably well, but they have no real paths outside their strict processes for going around it. American Express is much more personable, at least for high value accounts, and still allows you to insert travel advisories which have date ranges.
My experience as a new Amex customer has been horrid along these same lines. Everyone talks up Amex, but I'm not seeing it so far.
Then a month later, Amex mailed me a check for the money I paid because it had no account to credit it to, because it cancelled the account.
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Not all US credit card companies are like this. I specifically remember a few years ago that my Mom got a call from AMEX about some fraud on her card, to which she responded “I never get calls from you, how do I know this is real?”. They said no problem, just hang up and call the number on the back of your card. I believe some banks even skip the call entirely, and just prompt you to call the number on the card.
My US cards send me texts and I reply Y.
I had a long argument with HSBC UK Security a few years ago where I was completely unable to get the to understand they were putting their customers at risk. In the event that something looked strange on your account the 'HSBC Fraud Department' would text you and ask them to call you on a phone number. A phone number that didn't appear anywhere on their website. "We don't want it public. OK,well at least put it on a…
I have also had that with HSBC -if you call the main online banking number they will put you through but it involves being shunted around on hold. The thing I found most annoying was the attitude of the HSBC representatives when I said (very politely) that I wanted to call back.
Because they poor person on the phone gets dinged for not completing the transaction. You doing the right thing causes them to look bad in the computer-tallied automated productivity tracking tool.
Call center employee metrics are absolutely brutal.
I had a long argument with HSBC UK Security a few years ago where I was completely unable to get the to understand they were putting their customers at risk. In the event that something looked strange on your account the 'HSBC Fraud Department' would text you and ask them to call you on a phone number. A phone number that didn't appear anywhere on their website. "We don't want it public. OK,well at least put it on a…
And don't get me started on banks sending out emails chock full of "Click this link!" It's like they're setting people up to get phished.
Other banks purposely break my password manager so I have a high chance of pasting my password into a phishing site because I am in a habit of pasting my password for that bank.
How is the world going to balance instant low friction commerce with the need to prevent instant low friction fraud... I don't think anyone has answers, it's a problem that will affect crypto payments as well as Fiat payments.. I hoped Confirmation of Payee would help, but the massive increase in APP fraud in the last 12 months seems to dispel that notion.. Maybe the answer is money that doesn't settle instantly.. Ki…