New fraud prevention measures 'step in the right direction' says Martin Lewis

LHW99

cymruchris said:

It's a good step to get the message out that all cold calls are scams - but sadly I'm not sure it'll help much. Many of the cold calls originate from overseas, and until they are able to upgrade the technology to deal with them more effectively, they're still going to happen, and people will still lose their savings.

Unfortunately the &#gg=?s will no doubt work something else out to try and part the unwary from their money

TELLIT01

Ban all cold calls.

born_again

While making cold calls illegal. People will still fall for them. Just the same as they fall for all the old scam calls, despite being warned by banks & in the media. Saying they are from their bank..

So just who is going to refund these people?

Step in the right direction. Yes. Just verry short on details on how exactly they plan to stop them.🤷‍♀️

Murphybear

TELLIT01 said:

Ban all cold calls.

Sadly banning things doesn’t stop people from doing things and ignoring the bans.  

lincroft1710

Murphybear said:

TELLIT01 said:

Ban all cold calls.

Sadly banning things doesn’t stop people from doing things and ignoring the bans.  

That's so true. Apparently there are laws against murder, theft and exceeding speed limits, but these things still happen. All the scammers will do is find some way of circumventing the law or disguising the cold call as a follow up to an enquiry. Plus how do you stop calls from abroad?

born_again

lincroft1710 said:

That's so true. Apparently there are laws against murder, theft and exceeding speed limits, but these things still happen. All the scammers will do is find some way of circumventing the law or disguising the cold call as a follow up to an enquiry. Plus how do you stop calls from abroad?

Do you really think they are bothered by the laws.. 
They will just carry on as normal & people will fall for their claims, part with money & then want someone to give it back to them.

GrubbyGirl_2

I don't understand why banks say they can't do anything.  You have to jump through hoops to open a bank account and it includes checks on identity so I just don't get how they can't do anything when money is transferred to a bank account.  Maybe that's what needs regulating

lincroft1710

born_again said:

lincroft1710 said:

That's so true. Apparently there are laws against murder, theft and exceeding speed limits, but these things still happen. All the scammers will do is find some way of circumventing the law or disguising the cold call as a follow up to an enquiry. Plus how do you stop calls from abroad?

Do you really think they are bothered by the laws.. 
They will just carry on as normal & people will fall for their claims, part with money & then want someone to give it back to them.

Probably not.

born_again

GrubbyGirl_2 said:

I don't understand why banks say they can't do anything.  You have to jump through hoops to open a bank account and it includes checks on identity so I just don't get how they can't do anything when money is transferred to a bank account.  Maybe that's what needs regulating

It is regulated..

COP, limits on transfers.

There is only so much a bank can do when someone says transfer funds.

Plenty of cases where customers have been advised not to transfer funds as they believe it's a scam. But customer still wants to  send it.

https://www.dailymail.co.uk/news/article-9838979/Romance-fraud-victim-facing-bankruptcy-Santander-HSBC-want-reclaim-113-000-loans.html
You have to go a long way down to find
Unfortunately, despite repeatedly warning her of the dangers of transferring money to someone she hadn't met and directly raising our concerns that this was a scam with Ms Elwell and the police, she confirmed she wanted to proceed with the payments.'

robatwork

This won't stop cold calls from abroad.

I had one tonight and put it on speaker - the guy's accent was so indecipherable and his script so ridiculous we were both laughing until he hung up.

What needs to happen next is an extremely rigorous technical change not allowing anyone to spoof Caller ID. It won't be easy but it IS possible if the political will is there.