MSE News: Mobile banking - watch for fraud and fat fingers, watchdog says
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Former_MSE_Darryl
Posts: 210 Forumite
"Fraud and mistakes made on smartphone keypads have been highlighted by a watchdog as potential dangers for consumers using mobile banking...."
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Mobile banking - watch for fraud and fat fingers, watchdog says
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Mobile banking - watch for fraud and fat fingers, watchdog says
Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
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What did occur to me was that my Santander app only needs the 5 digit passcode on my mobile to allow access - everything else is automatically authenticated. So if I lose my phone and that number was known/guessed, it would be very simple for someone to setup a payment out of my account.
The extra layer of security that Santander have - the OTP - of course gets sent to the phone that the person has in their hand....0 -
What did occur to me was that my Santander app only needs the 5 digit passcode on my mobile to allow access - everything else is automatically authenticated. So if I lose my phone and that number was known/guessed, it would be very simple for someone to setup a payment out of my account.
The extra layer of security that Santander have - the OTP - of course gets sent to the phone that the person has in their hand....
But they can only send it to a payee that's already in your list - to set up a new payee they'd need your full desktop online banking login details.
And even if they did send a fraudulent payment to someone you've sent money to before, you wouldn't lose out:Santander wrote:Online Banking Commitment
Be assured that your money is safe when you bank online. There is protection provided by the Payment Services Regulations 2009. In the unlikely event funds are taken from your account as a result of fraud, we will refund you and restore your account to the state it would have been in had the unauthorised payment transaction not taken place.0 -
What did occur to me was that my Santander app only needs the 5 digit passcode on my mobile to allow access - everything else is automatically authenticated. So if I lose my phone and that number was known/guessed, it would be very simple for someone to setup a payment out of my account.
Which app do you have? My Santander banking app requires a password and the 5 digit number code, which is exactly the same as online banking.0 -
Which app do you have? My Santander banking app requires a password and the 5 digit number code, which is exactly the same as online banking.
Mine also requires exactly the same as the full online banking site
There is an option to 'remember' the ID - but I haven't selected it - obviously!0 -
I am not allowed to post the link - this is from Credit today.The full review, which is due to be published in the first half of 2014, will consider contactless payments, financial transfers and account monitoring across all mobile devices, including smartphones and tablet computers.
How many posts before I can link?0 -
The BBC coverage of this report included this:[Consumers] might also be using mobile banking late at night, which could affect their concentration when moving funds.
Hmmm. "affect their concentration" indeed... I think this really means:Just as soon as someone figures out how to make a breathalyser app work on an iPhone, we'll be making it mandatory0 -
Jivesinger wrote: »The BBC coverage of this report included this:
Hmmm. "affect their concentration" indeed... I think this really means:
It means the report will contain some nonsense like 'customers should have to answer a maths question correctly if logging into online banking between 11pm-5am'.0
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