Over £20,000 stolen from Sainsburys Bank

Paul_Robbed

Yes, the reason I put this money in my sister's account was that I was living in the Philippines. Not the safest place for a bank account, I thought.
Whilst there, I kept a relatively small amount in my UK Barclays account, and used the pinSentry device to transfer funds from a savings account, which worked fine.
But I still make a point of using the debit card as little as possible in third-world countries. Better to go to an ATM machine in a "reputable" bank, then pay for goods and services by cash.
I've noticed that some online payment systems refuse transactions if your IP address is from a "suspect" country.

BenL

I like the ING keypad.

The numbers move around to make it harder.

All cash machines and point of sale pin devices should use this method.

Ximian

Surely with the Sainsbury's account (hopefully similar to others) you can only transfer money into a known account owned by either you or your sister, so even if someone were to access the account, the only transaction they could carry out would be to your own external account.

I guess banks still view the cost of fraud and investigating fraud less than the cost and hassle of implementing stronger protection such as one time passwords via token devices.

malik999

Paul_Robbed wrote: »

Yes, the reason I put this money in my sister's account was that I was living in the Philippines. Not the safest place for a bank account, I thought.
Whilst there, I kept a relatively small amount in my UK Barclays account, and used the pinSentry device to transfer funds from a savings account, which worked fine.
But I still make a point of using the debit card as little as possible in third-world countries. Better to go to an ATM machine in a "reputable" bank, then pay for goods and services by cash.
I've noticed that some online payment systems refuse transactions if your IP address is from a "suspect" country.

I look forward to the next update/installment of your storytelling.