Online banking fraud due to rogues using cashback sites (my experiences)

noh

The cashback sites have no part in the original transaction except that of reffering the potential purchaser to the vendor.
The purchaser sets up payment with the Vendor.
It is the Vendor who needs to tighten up their security.

Shutting down Cashback Sites may remove the incentive to commit the fraud but the ability to do so won't be affected.

Personally I can't see how the potential fraudster can make any money out of this and there is a high risk of them being caught.
All the insurance companies require the policies to be held for 3 months before validating the cashback other companies take at least 2 months before paying cash back. That would give enough time for any sensible person to have noticed the DDs on their account.
The cashback site would have details of the account to which the money has been paid so making it fairly easy to find the person behind it.

Nathan_Spleen

opinions4u wrote: »

But to suggest that these cashback sites should be shutdown is a foolish comment by a member of staff in a bank's fraud team who should really use his brain before engaging his mouth.

As with all posters on this forum, Tara100 has an unchallengable right to give his opinion as he/she sees fit, regardless of their proffesional occupation.

As your signature suggests you seem to believe that as a former 'bank manager' you have a ''good background to comment'' implying somehow that your opinion is more worthy than that of others. This may be the case when supplying factual information on financial matters but this does not give you right to treat people as though they are one of your employees.

neil9313

Tara100 wrote: »

You seem to be putting out some rather rash statements on here

You could give the RBOS fraud dept a call.........As with me, they will be happy to relay to you what they are working to do.

Please don't shoot the messenger. I came here to help others, and as one poster has already spotted unauthorised direct debits within their bank account, then starting the thread was very worthwhile.....

You do need to quote posts correctly Tara, not just pick bits out. I said some of your posts are not factual

opinions4u

Nathan_Spleen wrote: »

As with all posters on this forum, Tara100 has an unchallengable right to give his opinion as he/she sees fit, regardless of their proffesional occupation.

Which she has rightly done, clearly contexting the view expressed by a member of the RBS fraud team.

As your signature suggests you seem to believe that as a former 'bank manager' you have a ''good background to comment'' implying somehow that your opinion is more worthy than that of others.

Does the bit where I suggest I may not always be right not in someway position things fairly and reasonably?

This may be the case when supplying factual information on financial matters but this does not give you right to treat people as though they are one of your employees.

No bank workers are my employees these days and it's great. But your comment is a complete load of twaddle - as are the openly stated wishes of 1 employee of RBS.

I assume you've had a problem with a bank manager in the past. Live with it.

Paul_Varjak

Tara100 wrote: »

Oh my word Paul!
I have a horrible feeling that this is happening to many people, and the DD entries aren't being spotted
Well I'm glad I helped, and I urge others to go and check their bank statements now! (and check as many months back as you can)

It's a pity, but I do think that unless security is tightened, this will be the end of the cashback sites.......I love them and made over £250 from them this year, by mainly buying legitimate car / house insurances!

I know your bank will refund you through the 'Direct Debit guarantee scheme, but did you speak to the fruad dept so they can investigate?
Oh and are they putting a 'marker' on your account so that no more DD's can be set up??

Good luck with sorting things out

I only spotted the problem on Saturday. Scottish Power customers services was closed as was the bank's security department!

As an existing customer there may still be a legitimate reason for two new direct debits, but I have cancelled them as Scottish Power told me nothing about them.

My bank is unable to put a 'marker' on my line to stop DDs being set up.

Tim_Deegan

Tara100 wrote: »

opinions4u
"We're trying to get Virgin Media shut down because they accepted a fraudulent new customer"
No, not at all; the mistakes have now been realised, and now companies want the consumer to buy direct from them rather than on cashback sites where fraud is commonly happening.
Yes, one could argue that the merchants will save money this way, but they will also lose a huge amount of custom by withdrawing 'the lure' of previous cashback offers.

Many companies who sell through cash back sites are over priced in the first place. So they should stop being greedy and just lower their prices to all customers.

Tim_Deegan

opinions4u wrote: »

Which she has rightly done, clearly contexting the view expressed by a member of the RBS fraud team.

Does the bit where I suggest I may not always be right not in someway position things fairly and reasonably?

No bank workers are my employees these days and it's great. But your comment is a complete load of twaddle - as are the openly stated wishes of 1 employee of RBS.

I assume you've had a problem with a bank manager in the past. Live with it.

I really don't think your patronising comments towards people who are just trying to help others are very constructive.

You seem to have a high and mighty attitude towards others. But I suppose that is normal in your ex profession.

noh

Tim_Deegan wrote: »

Many companies who sell through cash back sites are over priced in the first place. So they should stop being greedy and just lower their prices to all customers.

No companies "sell through cashback sites"
There is no direct relationship between the merchants and cashback site.

Companies use part of their advertising/marketing budget to promote their products online.
Some money goes to affiliate networks whos function is to drive customers to the merchants products. The affilate network pays a sum to the refferer for a successful sale.
Cashback sites are a fairly recent innovation designed to channel this refferal fee back into the pockets of the consumer rather than the owner of the website that carried the advert with refferal link.

The existence of the cashback site has no effect on the price of the goods offered.

Tim_Deegan

noh wrote: »

No companies "sell through cashback sites"
There is no direct relationship between the merchants and cashback site.

Companies use part of their advertising/marketing budget to promote their products online.
Some money goes to affiliate networks whos function is to drive customers to the merchants products. The affilate network pays a sum to the refferer for a successful sale.
Cashback sites are a fairly recent innovation designed to channel this refferal fee back into the pockets of the consumer rather than the owner of the website that carried the advert with refferal link.

The existence of the cashback site has no effect on the price of the goods offered.

Yes we all know how they work. Maybe I didn't use exactly the right wording, but you know exactly what I mean.

It's not the existence of the cash back sites that pushes the price up. However it does tend to be more expensive companies who use cash back sites because they can write off the cash back they give due to their prices being higher in the first place.

noh

Tim_Deegan wrote: »

Yes we all know how they work. Maybe I didn't use exactly the right wording, but you know exactly what I mean.

It's not the existence of the cash back sites that pushes the price up. However it does tend to be more expensive companies who use cash back sites because they can write off the cash back they give due to their prices being higher in the first place.

I don't think everybody does know how they work.
I don't agree with your assertion that it is the more expensive companies that use the cashback sites.
All companies have a marketing/advertising budget many companies choose to spend part of that budget on online advertising.
If the internet didn't exist that money would be spent on other forms of advertising.

Is the wine I buy from Tesco Wine via Quidco more expensive because they spend part of their marketing budget on online advertising?