£25k fraudulently taken from my bank account

BrendanKilk

Hi

I've had £25k fraudulently moved from my bank account into a transferwise account fraudulently opened in my name and then stolen (moved to various accounts). I was also the victim of a sim swap a few mins before this fraudulent activity started. The bank is saying I'm responsible as the transaction were authorised by an IP address which I've used in the past. I've reported the issue to the financial ombudsman. Has anyone got any advice please?   Any help/advice would be hugely appreciated. Thanks

elsien

Has it been reported to the police?
If it's an IP address you've used before and sim swap, is it someone you know who has taken the money?

BrendanKilk

yes - I reported it to the police who directed me to action fraud hence it is reported to action fraud.

The bank is saying that I have authorised hence are taking no responsibility. I don't know what to do. I haven't given my details to anyone. My passwords are secure. The criminal has obviously done something through my phone during the sim swap

tacpot12

Did you get any text messages or emails prior to the Sim Swap talking place? If not, you need to contact you mobile phone provider and make a formal complaint. 

The fact that the authorisation came from an IP address that you have used previously seems somewhat irrelevant as IP addresses are allocated dynamically. Any user of the same ISP might be allocated an IP address that you have used previously. What proof do they have that it was you that setup the payee? 

How was the payment away authorised? Online banking or Mobile App?

jonesMUFCforever

OP we need far more information about what happened before we can advise on here.
To me to go from being turned down straight to the ombudsman without going through the bank's formal complaint route is wrong.
Action fraud is no more effective in getting the police to investigate then posting on here and hoping a policeman picks up on it.

BrendanKilk

I advised the bank on the fraudulent behaviour. Santander investigated and advised that I authorised it. I made a formal complaint and they found again that I authorised the transactions (2 transactions). 

I had got a new sim only deal from o2 three days before fraud occurred. But too much of a coincidence. 

Regarding the sim swap - my phone just lost signal for about 2-3 hours before I contacted o2. After 30mins of investigating, they advised of the fraudulent activity on my phone and changed some sort of serial number (I can’t remember as I wasn’t paying too much attention). Once the phone came online again, I received an OTP message for one of the transactions. The second transaction was apparently authorised over the phone. - by someone who didn’t sound like me according to the Santander investigator. Transferwise has recognised the issue as fraud and is trying to get the money back but will not communicate with me or the Santander (during their investigation last week). Has anyone got any advice? It would be hugely appreciated 

BrendanKilk

The criminal transferred the money into my transferwise account which already had an account setup in my name on my online banking. 

Fingerbobs

BrendanKilk said:

The criminal transferred the money into my transferwise account which already had an account setup in my name on my online banking. 

That doesn't agree with what you stated in your first post:

BrendanKilk said:

I've had £25k fraudulently moved from my bank account into a transferwise account fraudulently opened in my name and then stolen (moved to various accounts).

BrendanKilk

I’ve got an email from transferwise in my trash items in my gmail saying that a new type of account has been opened in transferwise. Transferwise won’t talk to my or Santander (my bank). They’re trying to get my money back is all they’re saying. 

ryan121

You need to ask O2 how the sim swap was initiated. If it was by phone make a complaint and get a copy of the recording. You also need to make a complaint to santander explaining you have been a victim of sim swap fraud. You can only go to the ombudsman after santander give you a response to your complaint.

There was a case not that long ago involving O2 where a fraudster didn't even get the security questions right over the phone and they still let a sim swap happen.

Banks rely too much on the security of phone networks which isn't usually very good. 

I would advise also in the long term looking at other banks and networks if you want to help prevent this happening again.. The new banks such as starling are better at preventing people gaining access to your account. Also for example giffgaff don't allow a sim swap unless you authorise with a code via text or email.

BrendanKilk

Thanks Ryan 121. I have followed the process you outline - complain to Santander - but the outcome of their complaint investigation is that I authorised it all as the IP address used to authorise these fraudulent transactions is the same as the IP address used to authorise legitimate transactions previously. It’s all pretty distressing. I have requested transcripts of all conversations but the requests take a lot of time to get processed by the looks of it. I think online banking is extremely unsafe