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A Solution To Banking Scams?

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Hi Everyone,

I am new here and I have come here after exhausting other avenues

2 years ago I come up with a simple solution to end bank fraud/scams, meaning the end of scam phone calls, emails, texts, websites.

The banks lose 100’s of millions of £’s every year due to this type of fraud/scam, I have sent many emails to the bank bosses but never even had a reply.

I know my idea could be worth a lot of money not only to me but also to all banks, it also has many other applications.

Currently this idea only exists in my head, but I have looked at it from every angle and have put solutions in place to make it 100% un-hackable & un-scamable, this system could be active very quickly as I don’t think what I am suggesting would be hard to implement, as a customer it would take you less than 10 seconds to verify you wasn’t being scammed.

I really don’t understand why no one has come up with this idea before, unless the banks don’t want to solve the problems.

I am not anything to do with banks or finance etc, I am a normal bloke doing a normal job.

So where do I go with this? who can I contact who will listen to me and take notice? It is impossible for me a normal bloke to get the email address for the people within the banks who would listen to me & understand.


Thanks Everyone






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Comments

  • masonic said:
    Do you provide them with as much detail about your idea as you have done here?

    Obviously I am not going to post the whole idea here, that would be silly
  • masonic
    masonic Posts: 27,158 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    edited 27 October 2021 at 8:49PM
    UKMAN1969 said:
    masonic said:
    Do you provide them with as much detail about your idea as you have done here?

    Obviously I am not going to post the whole idea here, that would be silly
    They are ignoring you for a reason. If I put myself in a bank executive's shoes and I received your original post as an email, then I would definitely not take it seriously. Presumably if you are unwilling to share here, then you have been unwilling to share elsewhere, because as you say you think your idea is worth a lot of money, but it would be easy for anyone to copy and you don't have any IP protection. In that situation your only option would be to get it to the point where you can obtain a patent, then disclose it to the banks who can evaluate it and see if they agree with you about its value. That is assuming you haven't misunderstood the practicalities of your idea or missed any fatal flaws.
    I suppose the first step on this process would be to engage with a patent attorney to establish that your idea is indeed patentable and doesn't infringe on the intellectual property of others.
  • Sensory
    Sensory Posts: 497 Forumite
    Part of the Furniture 100 Posts Name Dropper
    UKMAN1969 said:

    Currently this idea only exists in my head, but I have looked at it from every angle and have put solutions in place to make it 100% un-hackable & un-scamable, this system could be active very quickly as I don’t think what I am suggesting would be hard to implement, as a customer it would take you less than 10 seconds to verify you wasn’t being scammed.

    I really don’t understand why no one has come up with this idea before, unless the banks don’t want to solve the problems.

    Without going into detail, what would customers have to do to verify they weren't being scammed? A vague generic description, if you please.
  • I know what your saying but I am not in a position to protect it, I don't think its something that is protectable.

    The one thning I do know it that it is bulletproof as far as scammers go, it stops them dead in their tracks 100%
  • masonic
    masonic Posts: 27,158 Forumite
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    UKMAN1969 said:
    I know what your saying but I am not in a position to protect it, I don't think its something that is protectable.

    The one thning I do know it that it is bulletproof as far as scammers go, it stops them dead in their tracks 100%
    If you don't think it can be protected, then could a bank implement it in secret, without its competitors being able to figure out how it works? If the answer to that question is no, then I think you are misguided about being it being worth a lot of money to you personally.
  • I don't mean its worth millions (I wish), but for some bank to be the first with this could be a big thing for them especially someone like Barclays who champion security and worth a few quid to me for the idea.
  • Sensory
    Sensory Posts: 497 Forumite
    Part of the Furniture 100 Posts Name Dropper
    UKMAN1969 said:
    I know what your saying but I am not in a position to protect it, I don't think its something that is protectable.

    The one thning I do know it that it is bulletproof as far as scammers go, it stops them dead in their tracks 100%
    Is it foolproof in that it 100% prevents legitimate users from making mistakes and 100% allows legitimate transactions?
  • masonic
    masonic Posts: 27,158 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    edited 27 October 2021 at 9:29PM
    UKMAN1969 said:
    I don't mean its worth millions (I wish), but for some bank to be the first with this could be a big thing for them especially someone like Barclays who champion security and worth a few quid to me for the idea.
    If it is truly what you say it is, then perhaps they would pay you for some consultancy if they decided to implement it. Most likely that would be an act of extreme generosity as I doubt they would need your help to reduce it to practice once they have understood what it is you've come up with. The problem you have is that to be believed you would need to disclose enough for them to fully understand it. That could be done under a confidentiality agreement, but they are unlikely to believe your idea is worth even that much effort.
    The best chance you have of seeing it implemented might be to give it away to the world free of charge. It's been two years already. If this idea is as good as you suggest, it is only a matter of time before someone else comes up with it (or something substantially similar) independently.
  • Sensory
    Sensory Posts: 497 Forumite
    Part of the Furniture 100 Posts Name Dropper
    You need to put yourself in their shoes. Why should they give up their time for you? What makes you different from anyone else with an idea like a Dragon's Den hopeful who gets completely bulldozed? If you lack intricate knowledge of the latest rapidly evolving technology and security measures in place, how can you be sure you're not overlooking fundamental aspects of current practice? You may think you have looked at it from every angle and put solutions in place, but you are just a single person, and even the most qualified in their fields make mistakes. Are you aware that modern fintechs heavily utilise open-source technology? Some of the best security is open-source, fully open to anyone, for the benefit of progress and innovation. Is your idea fully compliant with current regulations and legislation? Especially GDPR.
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