Online Banking Fraud

m_rizz

If whilst using a verified bank's online banking website (i.e. padlocked/ secured certificate) but due to a computer trojan/virus your online banking details have been compromised and money stolen (payment already left account), is there any consumer protection for lost money, especially when using a debit not credit card linked account, if the bank cannot get it back?


I would really appreciate any help.
Thank you in advance

zppp

m_rizz wrote: »

If whilst using a verified bank's online banking website (i.e. padlocked/ secured certificate) but due to a computer trojan/virus your online banking details have been compromised and money stolen (payment already left account), is there any consumer protection for lost money, especially when using a debit not credit card linked account, if the bank cannot get it back?


I would really appreciate any help.
Thank you in advance

Yes, banks will cover any losses, so long as you are not careless with your personal information, i.e. you give your login details to someone else knowingly.

It is much harder nowadays, as to set up a new payee on an account, you normally need a card reader to verify your card's PIN number, before you can transact to that account. Which bank are you using?

pqrdef

And most banks don't ask for your password in full, but only selected characters. Sometimes using drop-down menus. Could a keylogger really have got enough information to impersonate you?

But the money's been stolen from the bank, not from you.

Incyder

I have had online access to my bank account for about 5 yrs, but I have heard so many tales of fraud in the past year or so, I have told my bank to shut down my online access.

Without batting an eyelid, they did.

I suspect they were glad to, as no net fraud will ever happen to it now.

I have never been frauded, or had an attempt. BUT I just feel its an accident waiting to happen so to speak.

I can manage quite happily without it, just like I used to.

coolesticeking

For your own security, you should always have up to date Anti-Virus/Firewall/Spyware Software etc.

The only way they could prove that you did have key-logging software is either coming to your PC or taking your PC away and checking this themselves, it would of course cost them to do this so can't see them doing it anytime in the future.

Although I guess, if it kept happening - you never know... I know some banks have guideance to say that you should keep your Security Software up-to-date at all times when using Online Banking, but can they enforce it or check?

rb10

Incyder wrote: »

I have told my bank to shut down my online access.

Without batting an eyelid, they did.

I suspect they were glad to, as no net fraud will ever happen to it now.

Well they wouldn't 'bat an eyelid', would they? They all have a procedure in place to block online banking, and so if you request that they do that, they will do.

I am confident that you are incorrect to assume that they were glad to do this. The banks love people to have online banking access, as it takes the pressure off branch and telephone banking. Online banking fraud is extremely rare. If you protect your login details, then you are highly unlikely to have any problems.

In my opinion, blocking internet banking access, citing 'fraud risk' as the reason, is a daft thing to do. If you are seriously concerned about fraud, then close all your accounts with debit and credit cards - that's where the real risk lies. (Although your bank will refund the money whether it's online or card fraud).

blueberrypie

Incyder wrote: »

I have had online access to my bank account for about 5 yrs, but I have heard so many tales of fraud in the past year or so, I have told my bank to shut down my online access.

Without batting an eyelid, they did.

I suspect they were glad to, as no net fraud will ever happen to it now.

Risk of fraudulent activity on your bank account through your on-line banking is lower than the risk in other ways. And let's hope you don't become a victim of other fraudulent activity, because without on-line banking access, you probably won't know about it until your monthly statement arrives. I suspect that shutting down your on-line access is giving you no more than a false sense of security.

m_rizz

The account in question has effectively been barred so no money can leave it but the damage has been done.

Unfortunetely I trusted the usual secured, verifed and 'green' website (Firefox browser) and have various security software, anti-virus and firewalls in place. Just to let others out there know not to trust browser 'protection' and if there is anything remotely different when logging in be warned. I was conned into it as I thought I needed to give extra information as I had had to reset my account as I had entered the information wrong too many times.

Is (encrypted) wireless internet more susceptible?

Incyder

Well Im glad I have cancelled access to it. Its one less thing to worry about.
I check my account via the banks cashpoint every 2 days, no credit card and never buy anything online with my debit card.
Always pay cash for everything and have no direct debits or standing orders.

Just did a scan on my computer and have picked up 174 tracking cookies and one virus in the the last 3 days. AVG found and dealt with them but who knows next time ?

The hackers and scammers are getting cleverer but they can't get me now.

Incyder

m_rizz wrote: »

Is (encrypted) wireless internet more susceptible?

A friend of mine is a computer whizz and he can hack into all his neighbours secure wi-fi.

I asked him how, and his basic answer to me was that he has a programme he got off the net somewhere. It send data packets to the encrypted connection and based on the answers it gets back it can start to work out the key. It takes a period of hours to work it out but it does.

m_rizz

Incyder wrote: »

A friend of mine is a computer whizz and he can hack into all his neighbours secure wi-fi.

I asked him how, and his basic answer to me was that he has a programme he got off the net somewhere. It send data packets to the encrypted connection and based on the answers it gets back it can start to work out the key. It takes a period of hours to work it out but it does.

Is this just hacking into wifi normally though i.e. he can use someone else's internet. Surely it is more difficult to 'plant' a trojan virus on a computer without someone downloading anything?