Mobile Phone Banking.

Dunree

Hi Guys,

Had an interesting telephone conversation with Santander the other day.

I transferred large sums via internet banking that, when I checked the following day, had at first been refused, then were re-sent.

I received a letter from Santander stating that they had tried to contact me, but when I called up to clarify this, the ''advisor'' said that they hadn't tried to call in case the ''sim card was compromised''.

I asked him to explain further, but he then went very cagey.

Once I had finished talking, I immediately removed the app from my phone.

Does anyone know if the mobile apps really are as secure as they are leading us to believe??

Dunree.

jonesMUFCforever

Only as secure as your protection against malaware and viruses.
Same with Internet banking.

Dunree

jonesMUFCforever wrote: »

Only as secure as your protection against malaware and viruses.
Same with Internet banking.

I use an Iphone Jones, but the way the advisor was talking, it sounded as if this may be an issue.

jonesMUFCforever

Isn't any type of gadget vulnerable?

Dunree

jonesMUFCforever wrote: »

Isn't any type of gadget vulnerable?

I suppose they are Jones, but I, as yet, I haven't heard of 'sim card comprimised' as an excuse....

exel1966

Personally I wouldn't read too much into what a Santander CSA says. They're not exactly known for their reliable information

Dunree

exel1966 wrote: »

Personally I wouldn't read too much into what a Santander CSA says. They're not exactly known for their reliable information

RobTang

Dunree wrote: »

I suppose they are Jones, but I, as yet, I haven't heard of 'sim card comprimised' as an excuse....

Welll in theory if your phone is stolen (ie compromised) and you make suspicious transaction on the banking app, calling the same phone for verification may not be the best idea right ?

although TBH I think they were just trying to find an excuse for not ringing you.

clueless1682

Its not logging on through the mobile app which is the issue, its how they conduct their security that they were unable/unwilling to call you.

Basically, if you've had your details compromised by fraudsters, by malware/phising emails etc, and the bank picks up a payment which has been flagged, they'll want to ring you to confirm if its genuine.

However banks are seeing it were the fraudsters have gotten hold of the customers mobile number, ring their mobile provider claiming their sim has been damaged somehow, like being dropped in water or something, and they need a new sim card, then pop along to the nearest shop, pick up a new sim. The security asked by most mobile companies is rather poor so its easy to do really.
Then when the bank try to call you, they call the mobile number they have for you but the fraudsters then pick up, answer whatever security required and the payment gets sent.
So, the bank, if they have genuine concerns, may be reluctant to call a mobile number if they suspect this.

Doesn't really help when its all been done genuinely and real customers are affected, but hopefully this explains what they meant at least!

Dunree

I agree about the bank not bothering to call.

They also have my home number, my work number and my e mail addresses, but chose not to exercise any of those.

Just as well I'm changing banks

Naf

exel1966 wrote: »

Personally I wouldn't read too much into what a Santander CSA says. They're not exactly known for their reliable information

Having been one, I can explain why; the company are so hell bent on attracting more and more business, that all official staff training is spent solely on how to sell more products. Training in banking practises, systems and service is none existent. Unless you count it when they try to brainwash you that selling something to a customer is the best service you can provide.
I had a colleague (also a CSA) who didn't even know how an interest rate worked.

Dunree wrote: »

I agree about the bank not bothering to call.

They also have my home number, my work number and my e mail addresses, but chose not to exercise any of those.

The Santander fraud system is maniacally paranoid. Unlike other banks they put fraud prevention above even customer service. They'd rather (it seems, even from an inside perspective - possibly even more so from within the ranks) that customers had a nightmare transacting and actually using their money, than even the slightest ha'pny went to fraud.
I can understand them not using an email address in this type of case: it's something people rarely update with their bank (in general), and that might not even be checked daily by some people. On their systems one number is selected as 'primary'. I was never trained with any guidelines as to which number should be selected, so I'm nagware if there is even a policy, but I would guess that this is the only number they even might have tried. The calls are entirely automated, so clearly the computer didn't think to call a different. Umber; but neither did anyone else, and that's just plain dumb.