Insider bank fraud

stclair

democrat wrote: »

"This fraud would have had to have been committed by someone who had knowledge of the all the security question (highly unlikely) But if it was proved to be telephone banking then it would have been an 'inside job' at your end - perhaps someone who knows all your security info."

If you phone Natwest to make an enquiry about your bank balance or similar request you do not need a PIN number. They ask for name parts of address and your 'memorable' word in full. To check all of those details the Natwest employee has to have all the details, hence why I say that it can be done from inside.

I also have a friend who worked for HBOS on the IT side and he said you would be surprised about the number of internal fraud investigations that go on. But the banks do not want you to know 'cos it is bad for business.

However thanks for the suggestion of getting the recording of the phone conversations that is a really good idea. A friend of mine also works as a Detective and if the bank doesnt refer the case I am going to get the local police involved.

This will be changing soon and youll be required to have an actionline pin . If you press option 2 when you call there is a recorded message regarding this.

democrat

The police say they will get involved once the bank has carried out an initial investigation. The 'trail' doesnt go cold, apparently!

democrat

Hadley wrote: »

Same thing happened to us on New Years eve also done through phone banking they rang up and changed our address moved all our money from our savings account in to our current then paid a debt off within the same bank with our money.The bank should have been able to trace this straight away but they said they couldn't.The Fraud squad were called in and we got all our money back.But for months after the stupid bank were still sending post with all our details in to the address the fraudster had given them so watch out for the letters saying you have changed your address.It messed us up for months.Sorry this has happened to you .
Forgot to say they had phone records of the criminal and he was not asked any security questions by phone banking.Also my husands card had been cloned using the cash point at Sainbury's.

Thanks for posting this, after all the comments basically saying it is impossible for this to happen etc., it is comforting to know that there are people out there that have been thru the pain.

We have now had the bank saying that 'in order to protect the bank and our ous interests' it would be best to open a new account. Dont know what to make of that

dinglebert

The police bit is quite a difficult one. I had some transactions on an account over a year ago. Noticed them straight away and reported it to the bank. One company who the "thief" was trying to buy goods from got suspicious and wrote to me. I also phoned the other company. From this it became clear that they had the address details of the person. However the police were not interested. As far as they were concerned the fraud is against the bank and not against me as the bank replaced all the money, therefore the bank were the only people who were allowed to report the theft to the police. The bank just wrote it off.

BitterAndTwisted

Of course the bank wrote it off. It would be a darned sight cheaper than pursuing someone through the courts AND they avoid the obvious publicity. Imagine if no-one had any confidence in bank security and all the money that would be under mattresses as a consequence.

I once worked for an online retailer and your mind would boggle at the number of credit card chargebacks from fraudulent use. It was a miracle they made any profit at all