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Stop refunding victims of online fraud, police chief tells banks
Former_MSE_Lucinda
Posts: 46 Forumite
Online fraud victims who do not take appropriate security steps to protect themselves should not be refunded by banks, according to Britain's most senior police officer....
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See this thread already running on this subject...........
https://forums.moneysavingexpert.com/discussion/54359330 -
Sir Bernard said...
"Personally, on my system I've got a propriety security software and I got an update a few months ago and it sat there for months, I didn't quite get round to it.
I don't know what software he uses, but even MS updates every month.
I feel somewhat let down if my propriety security software doesn't update at least twice per day!0 -
He will be probably be referring to a program version update not a virus definitions update.0
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Well, he's right about '"I don't suppose I'm much different to anyone else but I guarantee if someone said to me 'if your card is done or something happens online I'll give you nothing back', you'd change your behaviour"'. I'd want to switch to a more secure account at another institution.
Like, say, a bank that doesn't constantly send me emails with live links to what they claim are their own sites but which just trains their customers to click on links in banking emails that can instead take them to any site controlled by the fraudster. Seems clear enough that if a bank trains their customers to click on links in emails that bank should be liable for all losses when the customer does that and is defrauded.
Or one that uses multiple factor (method) authentication including values that are not stored on the computer and which are linked to the destination account and amount being sent, so you can't do a fake transfer with different details during say a man in browser attack.
Antivirus software is irrelevant. The lack only allows exploitation of customers because the financial institutions are using insecure online systems. And that's pretending that antivirus software can actually do a good blocking job, which isn't really the case when you attack accounts in sufficient numbers.
There are issues with online fraud but the financial institutions have a long, long way to go to make their own online systems properly secure.
Stop trying to blame the customers and make the online systems themselves properly secure.0 -
He has a point. I remember on this forum criticising people who complained about Santander introducing two factor authentication by sending a code to your phone. Don't these people realise that without that protection if someone has your login details they could transfer every penny out of your account in minutes. Yet they only cared about the supposed inconvenience of it. I don't have any sympathy for people like that.
It's the same as people who don't put lock codes on their phones or sim cards which is quick and easy to do but too many people would rather have convenience over security.0 -
We don't have to do banking online, it's just not worth the risk.
Just like Contactless cards, we should have a choice.
I want an account that does not go through the internet.
I want a booth or cubicle in a bank, where I can do DIY banking, using a computer/device that the bank is responsible for keeping updated with secure features (and fail to do it right, again and again, except it's now THEIR fault).
Alternatively, I communicate via the post.
If I want to set up a direct debit, I fill out a form, by using a typewriter, or by hand. This is when I can't make it to the bank.
Obviously, you can keep small amounts in a more vulnerable account, for incidentals. Just transfer some money into it, e.g. using a standing order.0 -
Pincher you're just highlighting the issue I described and to be honest your comments just show ignorance and paranoia which is the biggest issue I see all the time when it comes to security.
Online banking is extremely secure if you use the options that santander for example provide. No one can do anything with the money in my account unless they have a code that is sent to my phone. What are the chances of someone having my login details and access to my phone at the same time? Yes this may be possible but the chances are pretty slim and not something anybody should have to worry about.
Contactless cards are in a way actually more secure! If you use your pin all the time and someone sees it and then steals your card they can simply withdraw £300. With a contactless card they can do a maximum of £30 per transaction and usually after three transactions the pin will be asked for again. A maximum of £90 lost which the bank will refund.
People need to embrace new technology and security, not fear it.0 -
Had a break-in recently, a lot of log-in information was taken.
Santander is very good, actually, as I can simply change my user ID. And I changed the password, too, of course.
I tried to change my User ID with National Savings, but apparently I need to change address to get another User ID. I assume it's an SQL Primary key thing. I explained to her that the thief now has all my security questions and answers, so could potentially override my new password, but she just keeps mouthing that their system is really secure.
As a consequence, I had to make up wrong answers to the security questions, just in case they try to hack in. Would you believe my grand father now has a new profession?
So, I have my reasons for wanting the good old days back.
Paid £20 to CIFAS.0 -
That'll stop a lot of attacks but not the phone shop helping problem that has allowed money to be stolen from Santander customers who are using that system.Santander introducing two factor authentication by sending a code to your phone. Don't these people realise that without that protection if someone has your login details they could transfer every penny out of your account in minutes.0 -
I hope the hackers target him now and take all his cash. Let's see if he tries to claim it back.0
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