Too many phone transactions? off to the Fraud dept

Katiehound

Or perhaps it was moving too much money to an unknown account?
A bit of a mutter rant....follows!
On Sunday I ended up being transferred to Lloyds fraud dept !:eek:

That's the second time I've had that joyful experience.

I had done various transactions over the phone with Halifax:checked savings rate, cancelled 2 x DDs and transferred a sum from c/a to new Tesco savings (so a/c details were not on the system) 2 or 3 calls.

Later in the day phoned Lloyds. Cancelled 1x DD and transferred money to same new Tesco savings account. 2 calls.
Operator said -" oh payment won't go out, I just need to transfer you to the "processing department!" Turns out to be the Fraud dept- they say they monitor all online & telephone banking movements.

What I want to alert folk to is the fact that the security checks with the fraud dept are not the run of the mill security questions such as mother's maiden name, first pet etc. Oh no! They are based on facts in your credit file- multiple choice Q- 4 answers!
When did you open a C/A?? Fine if you only have one, not so fine if you have a clutch.
What is the credit limit on one of your CCs? don't know as I never ever reach those dizzy heights.
Last time I think I was asked my driving licence number! (or was it passport?)
Luckily I managed to pass the check, last time they threatened that they could block my accounts and I would have to go into the branch and prove my identity. It's all a bit heavy handed- I wasn't closing or clearing a/cs and if I had thought carefully I could have transfered money to an existing Tesco a/c then moved cash online!

I am now going to list the opening times of my current a/cs- month & year. Perhaps when I only have 2 a/cs instead of existing 4 with them Lloyds Fraud won't be concerned if I am the person I say I am!!!!!!

enthusiasticsaver

I also had a phone call from Santander over the weekend due to unusual activity online as I am moving payments out to new current accounts I have opened as it is due to be switched next week. However I would rather endure the phone call and the subsequent questions than have my account emptied by a fraudster without them noticing. I wasn't asked the sort of questions you were though but yes some of them did seem pretty obscure but I was able to answer them all. I would have struggled with credit card limits too though and exact dates of opening.

Katiehound

Sorry did not make it clear - it wasn't exact dates of opening- just month and year! with 4 to choose from!
yes, I appreciate they are protecting my money.......but.......

GingerBob_3

Katiehound wrote: »

Sorry did not make it clear - it wasn't exact dates of opening- just month and year! with 4 to choose from!
yes, I appreciate they are protecting my money.......but.......

That's not what it's about. They are selfishly trying to protect themselves, and causing a large number of people an inordinate amount of hassle into the bargain.


Banks are absolutely steeped in paranoia, whether it be money laundering or fraud. They are institutionally stupid.

Ballard

GingerBob wrote: »

That's not what it's about. They are selfishly trying to protect themselves, and causing a large number of people an inordinate amount of hassle into the bargain.


Banks are absolutely steeped in paranoia, whether it be money laundering or fraud. They are institutionally stupid.

I've never had anything quite like this but I can understand it as the bank would reimburse you for any loss due to fraud. It's hardly a surprise that they'll be a little over zealous when it comes to checking transactions.

ChiefGrasscutter

Yes I've had this on a couple of occasions from Lloyds. Maybe sometime like a change in pattern of or number of transactions triggers it.
They have a direct feed from the CRA's which does not appear as a "search"
So Lloyds asks you lots of questions from your credit file with multiple choice answers to which you (hopefully) get the right answers.

I'm guessing that the call centre operative selects the answer on the screen in front of them each time and then at the end the CRA computer gives them a pass or fail result so importantly the call centre does not know which of the questions you got wrong or right - and I certainly have got one wrong during my sessions so you do not have to be 100% right. Possibly if you get some wrong you might be asked extra questions.......

I have no problem with any of this.
Those that have I suggest that you might like to consider emigrate to other countries where if you get scammed or your passwords hacked and your bank account emptied then it is your loss.

stclair

Banks are dammed if they do dammed if they don't.

Eco_Miser

GingerBob wrote: »

Banks are absolutely steeped in paranoia, whether it be money laundering or fraud.

It's not paranoia if they are out to get you, and for the banks, both the government and the scammers are out to get them.

grumbler

GingerBob wrote: »

They are selfishly trying to protect themselves, and causing a large number of people an inordinate amount of hassle into the bargain.

Banks are absolutely steeped in paranoia, whether it be money laundering or fraud. They are institutionally stupid.

I don't see anything selfish in trying to protect themselves from fraud.

Stupid are some people working in banks that seem to live on another planet and invent clumsy questions that perplex genuine customers.

colsten

Katiehound wrote: »

What I want to alert folk to is the fact that the security checks with the fraud dept are not the run of the mill security questions such as mother's maiden name, first pet etc. Oh no! They are based on facts in your credit file- multiple choice Q- 4 answers!

I had that a couple of times with Halifax and it's a bit of a surprise when it happens first time but I passed both times, even though my response was several times "I honestly can't remember".

I know for a fact that Barclays also use this method to verify your ID. Also, the new gov.uk Verify system uses a similar approach (at least if you register using Experian).

May be have your noddle credit report to hand when you call them next time so you can look up the right answer?

eskbanker

stclair wrote: »

Banks are dammed if they do dammed if they don't.

Is that why they spend so much time holding transactions back by blocking them?