A Solution To Banking Scams?

born_again

masonic said:

Last time I was cold called by a bank I failed my security questions (completely forgot what they were), but they overlooked that and discussed my account with me anyway, just telling me I might need to answer them correctly if I was called again in the future.

That would get us sacked.... And exactly why banks have failed security teams..

gavinaw

born_again said:

masonic said:

Last time I was cold called by a bank I failed my security questions (completely forgot what they were), but they overlooked that and discussed my account with me anyway, just telling me I might need to answer them correctly if I was called again in the future.

That would get us sacked.... And exactly why banks have failed security teams..

It really defeats the purpose of having human security teams... automated bots could reject you right away if you lack the information. 

Could be for a number of reasons though, might be someone trying to reach their quota (assuming they're a sales rep from the credit card dept) or they just really have a bad QA system in place...

masonic

gavinaw said:

born_again said:

masonic said:

Last time I was cold called by a bank I failed my security questions (completely forgot what they were), but they overlooked that and discussed my account with me anyway, just telling me I might need to answer them correctly if I was called again in the future.

That would get us sacked.... And exactly why banks have failed security teams..

It really defeats the purpose of having human security teams... automated bots could reject you right away if you lack the information. 

Could be for a number of reasons though, might be someone trying to reach their quota (assuming they're a sales rep from the credit card dept) or they just really have a bad QA system in place...

It was nothing to do with a sale in my case. I had made a large transfer from my savings account to an existing payee (a current account in my name) earlier that morning and it was being held while they confirmed it was genuine. The comment was along the lines of 'I can see you've made many transfers to this account in the past, but this one is quite a bit larger than the others'.

General_Grant

UKMAN1969 said:

. . . 

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.

. . .

Currently this idea only exists in my head,   . . .

Two years is a long time to have left it just in your head.
Time to get it down on paper or electronically.

flo22

OP the best place for any idea that would impact all banks is directly to the scheme https://www.wearepay.uk/ 

cx6

AskAsk said:

cx6 said:

45 mins? You lucky lucky person.....

I had to go down to the branch with my passport.

the transfer, by the way, was to an account in my own name albeit at a different bank.

this wasn't santander was it??  i opened a new savings account with them many years ago, put in about £21k in total and when i tried to withdraw £4000 it blocked my account and i had to go into the branch with ID.

i was told that this was too large an amount and so my account had been frozen!  in the meantime they conveniently continue to accept money into the account but won't let me withdraw anything until i present ID at the branch.

that was the first time i ever had this problem with a savings account so i have avoided santander since that time.

It ws Lloyds actually, and I switched away soon after.

Ergates

UKMAN1969 said:

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.

...

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

You might not like to hear this but - You have no experience in or knowledge of: banking, banking processes, banking IT systems, existing anti-fraud systems; avenues of fraud attacks; relevant legislation; etc, etc.  Given that, the chance that you've actually come up with a solution to end fraud is pretty much 0%.  It'd be about as likely as someone with no medical or biological sciences background coming up with a cure for cancer in their shed.  Or, perhaps more accurately, coming up with a cure for all diseases.

If someone with a lifetimes experience in the relevant sectors and technology made the same claim they'd be met with massive skepticism - nobody is going to take your claims seriously.

grumiofoundation

Ergates said:

UKMAN1969 said:

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.

...

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

You might not like to hear this but - You have no experience in or knowledge of: banking, banking processes, banking IT systems, existing anti-fraud systems; avenues of fraud attacks; relevant legislation; etc, etc.  Given that, the chance that you've actually come up with a solution to end fraud is pretty much 0%.  It'd be about as likely as someone with no medical or biological sciences background coming up with a cure for cancer in their shed.  Or, perhaps more accurately, coming up with a cure for all diseases.

If someone with a lifetimes experience in the relevant sectors and technology made the same claim they'd be met with massive skepticism - nobody is going to take your claims seriously.

I'd disagree with that. 
How many people do you know with for example cancer cell lines in their shed? 
Whereas most people have a computer and a bank account...?

Not saying I believe the OP has a viable solution to banking scams but I'd wager there is a much greater chance than if they claimed they had found a cure to cancer or any other disease. 

Ergates

grumiofoundation said:
I'd disagree with that. 

How many people do you know with for example cancer cell lines in their shed? 
Whereas most people have a computer and a bank account...?

Not saying I believe the OP has a viable solution to banking scams but I'd wager there is a much greater chance than if they claimed they had found a cure to cancer or any other disease. 

Having a computer and a bank account doesn't give you any idea of how internal bank systems work and/or the ways in which they are vulnerable to fraud.  The likelihood of either is a rounding error away from 0, so is effectively the same - 0.0001% might be 1000 times higher than 0.0000001%, but in practical terms they're both 0%

RG2015

I am sure that there are many examples of banking scams with widely varied methods used.

It is possible (however unlikely it may seem) that the OP does have an innovative and viable idea to stop some of these although certainly not all of them.

I doubt that telling them it is about as likely as finding a cure for cancer would in any way deter them from pursuing their idea.

However, posting here will help them to get a very good idea of the reaction they will get wherever they go.