internet banking fraud

chainsaw

Two days after I realised there was a problem (about 7 days after the bank did) I have a letter from the bank saying they will credit my account with the lost money in the next 10 days with no loss of interest etc. Assuming this happens then all I can say is what great service.

hermum

I assume that this fraud is so sophisticated that the chances of the thief/thieves being caught is pretty low?
I'm pleased to hear that for you it's been resolved.

glider3560

hermum wrote: »

I assume that this fraud is so sophisticated that the chances of the thief/thieves being caught is pretty low?.

The money will have been transferred to another account (which can be traced), but that isn't necessarily the fraudsters. A complex fraud could involve being transferred to an unsuspecting person's account and then using a clone of their card to withdraw the money from an ATM. Very complex but could probably be done by a fraudster.

Also, there is the possibility they've set up a bank account with false or stolen details (hence why there are strict ID requirements for opening accounts).

A whole load of possibilities but none of them can really be traced.

chainsaw

[FONT=&quot]My feeling is that for me to get the money back so quickly the bank must have managed to get it back.

Don't know how these things work exactly but if it is a Trojan that has been used for a while on the net automatically transferring money to from peoples accounts to an acount somewhere else then this account may have already been closed some days or weeks ago when it was discovered and my money would have been held by the bank where the account was and then repaid?

I tried to post a link to the Nationwide security site where they warned about a new a new trojan on the 22 April asking people to re sync their card readers but as a new poster I cannot post links
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