Money not refunded by bank after I was mugged

HillStreetBlues

jimjames said:

Sea_Shell said:

This thread has definitely got me thinking about phone security and if I NEED all my banking apps on there.

Maybe the alternative is to have all banking apps on there. Only you know which ones are the real ones.I've got 2 pages of bank apps so trying to work out which one has any money in will be a bit of a challenge or at least delay things going through that login process to find there is a zero balance.

If you're being mugged and holding a knife to you  to get passwords won't they just demand you tell them the ones with money in them?

Sea_Shell

HillStreetBlues said:

jimjames said:

Sea_Shell said:

This thread has definitely got me thinking about phone security and if I NEED all my banking apps on there.

Maybe the alternative is to have all banking apps on there. Only you know which ones are the real ones.I've got 2 pages of bank apps so trying to work out which one has any money in will be a bit of a challenge or at least delay things going through that login process to find there is a zero balance.

If you're being mugged and holding a knife to you  to get passwords won't they just demand you tell them the ones with money in them?

But what if you genuinely don't have any money?  Living payday to payday.

Assuming you've been attacked completely randomly, they can't know what £££ you have or don't have available.

Then it's down to how long they spend trying to get blood out of a stone (literally ☹️) before they give up.

Nasqueron

Sea_Shell said:

HillStreetBlues said:

jimjames said:

Sea_Shell said:

This thread has definitely got me thinking about phone security and if I NEED all my banking apps on there.

Maybe the alternative is to have all banking apps on there. Only you know which ones are the real ones.I've got 2 pages of bank apps so trying to work out which one has any money in will be a bit of a challenge or at least delay things going through that login process to find there is a zero balance.

If you're being mugged and holding a knife to you  to get passwords won't they just demand you tell them the ones with money in them?

But what if you genuinely don't have any money?  Living payday to payday.

Assuming you've been attacked completely randomly, they can't know what £££ you have or don't have available.

Then it's down to how long they spend trying to get blood out of a stone (literally ☹️) before they give up.

2 different things

One, you get stabbed if you don't give us access to the bank with your money in - even if it's £10 or £0 or -£10, at least they see it's your account (and a smart one would check the history of use, for DD or SO etc to prove this)

Or two, you have 20 banking apps on there with your real one in it and they threaten to stab you if you don't show which one is the genuine one.

It's just pointing out the flaw in the "hack" of having lots of apps on there, they will get your real bank regardless. 

HillStreetBlues

Sea_Shell said:

HillStreetBlues said:

jimjames said:

Sea_Shell said:

This thread has definitely got me thinking about phone security and if I NEED all my banking apps on there.

Maybe the alternative is to have all banking apps on there. Only you know which ones are the real ones.I've got 2 pages of bank apps so trying to work out which one has any money in will be a bit of a challenge or at least delay things going through that login process to find there is a zero balance.

If you're being mugged and holding a knife to you  to get passwords won't they just demand you tell them the ones with money in them?

But what if you genuinely don't have any money?  Living payday to payday.

Assuming you've been attacked completely randomly, they can't know what £££ you have or don't have available.

Then it's down to how long they spend trying to get blood out of a stone (literally ☹️) before they give up.

Why would I want to make it harder for them? If it did happen I would expect at some point to get refunded, and I would like to still be alive to get that refund.

Sea_Shell

HillStreetBlues said:

Sea_Shell said:

HillStreetBlues said:

jimjames said:

Sea_Shell said:

This thread has definitely got me thinking about phone security and if I NEED all my banking apps on there.

Maybe the alternative is to have all banking apps on there. Only you know which ones are the real ones.I've got 2 pages of bank apps so trying to work out which one has any money in will be a bit of a challenge or at least delay things going through that login process to find there is a zero balance.

If you're being mugged and holding a knife to you  to get passwords won't they just demand you tell them the ones with money in them?

But what if you genuinely don't have any money?  Living payday to payday.

Assuming you've been attacked completely randomly, they can't know what £££ you have or don't have available.

Then it's down to how long they spend trying to get blood out of a stone (literally ☹️) before they give up.

Why would I want to make it harder for them? If it did happen I would expect at some point to get refunded, and I would like to still be alive to get that refund.

That's the crux of the thread...would you be!?!

Hopefully OP will decide to come back and update.

masonic

Phones could do with some sort of 'duress' mode. For example, unlocking using wrong finger causes phone to simulate shutting down due to battery being drained for the next 24 hours. But ultimately, the optimal way out of such a situation is to make the perpetrator believe you have been cooperative, while giving them as little as possible.

GeoffTF

masonic said:

Phones could do with some sort of 'duress' mode. For example, unlocking using wrong finger causes phone to simulate shutting down due to battery being drained for the next 24 hours. But ultimately, the optimal way out of such a situation is to make the perpetrator believe you have been cooperative, while giving them as little as possible.

Service not available - try again later?

TheBanker

This is another example where building in delays to Faster Payments to new payees would help. This is proposed to reduce the number of scams, but would also prevent someone from draining your account at knifepoint - unless they held you hostage for x hours.

I feel quite lucky having read this thread - my most significant savings balances can't be accessed through my phone, simply because the banks I use for savings don't have apps. My current account balances are not normally significant so the criminal would not get much from me. 

masonic said:

Phones could do with some sort of 'duress' mode. For example, unlocking using wrong finger causes phone to simulate shutting down due to battery being drained for the next 24 hours. But ultimately, the optimal way out of such a situation is to make the perpetrator believe you have been cooperative, while giving them as little as possible.

The problem is the criminal would know that such a mode existed, so if you activated it they would not be happy. Personally I would not want to annoy someone who was holding a knife. Even if the service alerted the Police, it could be a while before they responded in which time who knows what could happen.

I worked in a bank branch years ago, the amount of cash held in the branch was a lot more than it is today. We were always told if threatened with a weapon, give them the money. Don't try to be a hero. I think the same applies if you're being mugged. It is not worth a life changing injury, or worse, to try to save your bank balance. Let them have the money, hope they let you go, then call 999 straight away. 

masonic

TheBanker said:

masonic said:

Phones could do with some sort of 'duress' mode. For example, unlocking using wrong finger causes phone to simulate shutting down due to battery being drained for the next 24 hours. But ultimately, the optimal way out of such a situation is to make the perpetrator believe you have been cooperative, while giving them as little as possible.

The problem is the criminal would know that such a mode existed, so if you activated it they would not be happy. Personally I would not want to annoy someone who was holding a knife. Even if the service alerted the Police, it could be a while before they responded in which time who knows what could happen.

I worked in a bank branch years ago, the amount of cash held in the branch was a lot more than it is today. We were always told if threatened with a weapon, give them the money. Don't try to be a hero. I think the same applies if you're being mugged. It is not worth a life changing injury, or worse, to try to save your bank balance. Let them have the money, hope they let you go, then call 999 straight away. 

I agree, hence the last sentence of my post. I still prefer the single banking app with a low balance solution.

surreysaver

Its certainly worth consideration. All those apps on my phone that don't really need to be there, just for convenience. When I'm moving all my money around I tend to do it at home anyway.
Perhaps this is where open banking can help - to save having a banking app on your phone that includes the savings account that doesn't need to be on your phone, but includes the current account that does