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Why can a 78-year old widow's life savings be managed through an online bank system? Bring back local branch offices where people have to manage their high-risk accounts in-person.
Why can a 78-year old widow's life savings be managed through an online bank system? Bring back local branch offices where people have to manage their high-risk accounts in-person.
Why can a 78-year old widow's life savings be managed through an online bank system? Bring back local branch offices where people have to manage their high-risk accounts in-person.
Ultimately you can't really stop people from falling for con men, but I do feel part of the blame lies with banks and other institutions for normalising out-of-the-blue phone calls. How would you know a call from the bank about fraudulent transactions was fake? They do that! I've even had legitimate calls from them where they refuse to pass my security questions because of data protection. Pure madness.
Earlier quoted context omitted.
Yeah, Jim Browning definitely needs to go teach law enforcement how to do their job, preferably in exchange for the biggest consulting cheque the world has ever seen. Ths problem, as always, is that they don't actually want to do that. They'd rather stay incompetent because it lets them let criminals off more easily. We have the same problem where I live but with illegal work for often far below minimum wage. The cop…
What an absolutely infantile comment.
Britain being where the victims are, not the criminals. Some reasons why Brits might be so so vulnerable: * Major: English speaking so common to be targeted from less affluent ex-commonwealth countries. * Major: Ageing population have most of the wealth. * Major: Lots of vulnerable victims online and relatively high social media engagement. * Major: Little fear of retaliation (other than Jim Browning). The UK is havi…
* UK infrastructure makes number spoofing very easy.
* UK banking legislation (and court rulings) put banks in a difficult position: they MUST accept a clients instruction to transfer money and do so rapidly (unless doing so would be a crime).
Britain being where the victims are, not the criminals. Some reasons why Brits might be so so vulnerable: * Major: English speaking so common to be targeted from less affluent ex-commonwealth countries. * Major: Ageing population have most of the wealth. * Major: Lots of vulnerable victims online and relatively high social media engagement. * Major: Little fear of retaliation (other than Jim Browning). The UK is havi…
Britons could be the criminals too. It's easier to spearphish high value targets when using a familiar "trustworthy" accent and associated mannerisms and cultural knowledge.
Britain being where the victims are, not the criminals. Some reasons why Brits might be so so vulnerable: * Major: English speaking so common to be targeted from less affluent ex-commonwealth countries. * Major: Ageing population have most of the wealth. * Major: Lots of vulnerable victims online and relatively high social media engagement. * Major: Little fear of retaliation (other than Jim Browning). The UK is havi…
From TFA: > While security experts and senior bankers said many fraud attacks could be traced overseas - including from India and West Africa - Britain is also increasingly exporting attacks. > ... > "It's popular to say the fraud threat is imported into the UK, and I don't think that bears analysis," said NECC's Reed. "There is a significant UK nexus to a lot of fraud, our operational experience is showing that."
The police in the UK have a very poor track record of actually dealing with bank fraud. The nature of the crime, and way UK policing works, means there's a significant number of disincentives to actually investigating bank fraud. Two of the biggest showstoppers is location/jurisdiction and training, which police force should investigate? The one where the victim lives, or the one where the criminal lives? Police training focuses almost entirely on crimes with a physical element, if someone robbed your store, then the police know how to help. If they rob your bank account, they haven't foggiest on where to start that kind of investigation.
Additionally each individual case of fraud tends to be for small amounts (thousands to tens of thousands), so are frequently ignored. It's only in aggregate that the sums become meaningful to police, but they rarely consider fraud on anything other than a case-by-case basis. The result, as a bank we can tell the police exactly who commited a crime, where they live, what they look like, where they eat breakfast, what their social media handles are etc, and nothing will happen. The report and all the data vanishes into the blackhole known as the NCA.
Why can a 78-year old widow's life savings be managed through an online bank system? Bring back local branch offices where people have to manage their high-risk accounts in-person.
That's still considered normal customer service by a local bank here in the US. I assume it degrades if you bank with one of the giants like Bank of America.
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 non-linked page so that if you SEARCH for the number on the website search tool, it returns a page with the number on "Well, I suppose that's an idea I could pass on".
Even when I said to them "You are training your customers to accept potentially fraudulent text messages" they didn't get it.
Infuriating.