Wonga are now asking for online banking login details "to verify" applications

pentia

(Forgive me if this is in the wrong forum, I was directed here from satirical website cookdandbombd. This is a copypaste, so please overlook the chummy tone.)

Hello. Not that you'd be using wonga (right? you know it's barely-legal loansharking, yeah?) but I was alerted by a friend to wonga's extraordinary new policy of demanding online banking login details as a means to "verify" a user account and complete a loan.

We assumed it must be a phishing scam using a mock-up of wonga's homepage. I signed up on my own pc with an old bank account to see whether it was for real. It got to the last step, just before the loan was approved:

[oh, I can't post the screencap, hang on, go here: i764.photobucket.com/albums/xx281/seesta_repentia/how_is_this_legal.png]

and Wonga very quietly asked me for my online banking login details as verification (instead of bouncing a pound out and back into my account like they used to)!

This is beyond extraordinary. This is encouraging people to hand over their entire banking entity to a near-loanshark to get at £50 a few days before payday. Without any warning that what you are being asked to type into the page is strictly forbidden by the banks themselves. The scamming possibilities here are off-the-scale if people get into the habit of fulfilling this sort of "request". I cannot believe that wonga can legally ask for this sort of information, let alone use it to log into peoples' accounts.

This is the info pop up:

[again, no pics for me, go here: i764.photobucket.com/albums/xx281/seesta_repentia/wonga_pop_up.png]

I'm immediately reminded of the playstation network debacle and other claims of encryption and safe storage that simply were not true.

How can this be legal? This is phishing via an US-based (hello NSA, hope you liked my demographic profile) API substitute, surely?

Apples2

I can't believe that to be true.

I tried a punt with a dummy application but you can't get further without a correct mobile number to obtain a PIN.

I'll put the pic up from your photobucket
{edited to protect OP's dignity}

Oops, wrong one...

pentia

Heh heh, that's my daughter I'll have you know.

I was told you were a bunch of moaning tightarses, good good.

pentia

The "help" chat that popped up as I dawdled on the page failed the Turing Test:

[go here, ignore the sinister collection of raver girls and photomongs: i764.photobucket.com/albums/xx281/seesta_repentia/hmm.png]

I was suddenly aware I was typing to a spambot, and it took the wind out of my sails.

Trolled by a chatbot that reads like she has hoopy earings and one eye on the clock for a fag break.

The thing is, if you are turning to the likes of wonga, you probably will just go ahead and enter your details and then immediately change them if you are sensible. You may not even change them if it doesn't occur to you that what you are being asked is monstrously wrong. There's a wonga phone app for debt-on-the-go, and it's a very different "feel" to using the web than sitting in front of a 19" monitor. Far more "personal" to you, tricking a sense of security and "ownership".

It's mad: the one information collection you do not enter anywhere but at the bank's secure page. The phishing potential here is so high. This is phishing anyway, really. The more I think about it, decisionlogic could well harvest all of your recent transactions for demographic profiling.

So... is this even legal? (Not the jb "reaserch" collection, the wonga wrongs?)

Apples2

We have more than enough Wonga addicts on here.

I'm hoping someone will come along and clarify this soon.

sharp82

That cant be true! I really hope no one is stupid enough to give them their bank information!

rizla_king

Don't know about illegal, but you would be in breach of your account/internet bank terms & conditions by disclosing that to a 3rd party and giving them access.

DCFC79

sharp82 wrote: »

That cant be true! I really hope no one is stupid enough to give them their bank information!

I also hope its not true, not soemthing anyone should know except the account holder, I dont think the bank would be too happy to hear you have given someone else ( wonga ) your account details.

Does seem a bit odd wonga would ask for this info.

rizla_king

This is another screenshot, yes?

CKhalvashi

This may be one for the OFT and FCA. I'll get this referred on Monday, as I only got back into the UK.

OP - don't do it!

Also, we're not a load of tightwads at all; if we want something, we'll find the best/cheapest way of doing it, of which Wonga certainly isn't one of them.

CK

matttye

http://www.decisionlogic.com/ServiceInfo.aspx

"Service Overview
This service provides lenders the ability to verify a borrower’s identity, account number and balance in real-time. It also provides access to up to 90 days of the borrowers account transaction history. This automated real-time process removes many of the problems encountered with traditional methods of loan decision making. IAV empowers lenders to make fast and accurate decisions critical to the success of their business."

This sounds horrific!