Security alert over NatWest online banking

Paul_1977

The investigation was by the BBC, the Daily Mail are just reporting it.

colsten

gunsandbanjos wrote: »

l]

In case anyone doesn't know how sim swap works.

Step 1: Get the person’s Internet banking details

Step 2: (not mentioned): Get the person's other details - address, date of birth etc

Step 3: and so on.......


SIM swap fraud only works with people who are incredibly negligent with their personal information, or who have a fraudster amongst their closest family and friends

alanq

This was a subject of Thursday's Radio 4 You And Yours.

A presenter demonstrated how by SIM fraud or acquiring someone's mobile phone it was possible for a thief to steal someone's funds without needing to know any Pin or password. It was even possible to set up a new payee without using a card reader by downloading the Natwest/RBS banking app. The presenter managed to demonstrate "stealing" from a colleague's bank account with nothing more than her phone.

BBC informed NatWest/RBS about the issue and it was claimed that the security loophole had as a result been closed.

http://www.bbc.co.uk/programmes/b071ld05

EarthBoy

alanq wrote: »

BBC informed NatWest/RBS about the issue and it was claimed that the security loophole had as a result been closed.

http://www.bbc.co.uk/programmes/b071ld05

This article says that the systems "would be changed", not that they've already been changed:

"NatWest, owned by Royal Bank of Scotland, said that its systems for both banks would be changed as a direct result of the You and Yours investigation."

http://www.bbc.co.uk/news/business-35716872

alanq

EarthBoy wrote: »

This article says that the systems "would be changed", not that they've already been changed:

I listened to the original broadcast and believed that the past tense had been used.

The introduction was: "Natwest and RBS change their security systems as the result of what we found". I thought that I had heard "changed". Listening again I realise that I was wrong. However, in journalism the present tense is sometimes used in place of the past. e.g. a couple of today's newspaper headlines "Cameron attacks SNP..." "Berlin and Paris raise the stakes...".

To me the rest of the report was unclear whether changes were happening, had happened or would be made in the future. The evasion by the Natwest spokesman did not help.

Paul_1977

If I take your phone, can't I just put the sim in another phone?

masonic

Paul_1977 wrote: »

If I take your phone, can't I just put the sim in another phone?

If there is a SIM PIN enabled, you would need to know that, or persuade the network to issue you with a PUK code to override the PIN.

Paul_1977

masonic wrote: »

If there is a SIM PIN enabled, you would need to know that, or persuade the network to issue you with a PUK code to override the PIN.

Thanks for that info, I did not know you could set a pin, I have done so now.

anoncol

gunsandbanjos wrote: »

http://www.moneyweb.co.za/archive/how-internet-banking-and-sim-swap-fraud-happens/

In case anyone doesn't know how sim swap works.

Not trivial then. And being stupid to fall for a phishing attack is needed first!

No_6

Smart phone =dummmmb user.