Banks to refund some scam victims.

[Cyclone 10]

8 minutes ago, Top Cats Hat said:

This one is now getting very popular with people transferring £20,30,40K into a random account from the contents of an email. I'm fairly well off but I wouldn't dream of transferring anywhere near that amount of money on the strength of an email. If you are buying a house you will be in fairly regular contact with your solicitor. How hard is it to just pick up the phone and ring them to confirm the details? After all, it is probably the most amount of money you will ever move in one transaction.

 

Is this a sign of our times where we don't talk to people instead choosing to text/facebook/email each other?

Normally I'd prefer an email to taking an account number and sort code over the phone, less chance of mishearing or writing it down wrong if you can copy and paste it.  But I think that if there was a change notified to me, I'd call them then and confirm it.

[Janus 28]

When hackers stole over £2 million from  Tesco bank customers in 2016, the FCA came down heavy on Tesco with a £16 million pound fine.

 

Quote:
The fine the FCA imposed on Tesco Bank today reflects the fact that the FCA has no tolerance for banks that fail to protect customers from foreseeable risks," said Mark Steward, executive director of enforcement and market oversight at the FCA.

https://www.zdnet.com/article/tesco-bank-fined-16-4m-over-cyber-attack/

 

 

 

[Cyclone 10]

Not really related to scams though is it.

[lil-minx92 10]

19 hours ago, Top Cats Hat said:

I have three bank accounts and a building society account and not one of them has ever rung me in the many years I’ve been a customer. 

 

I can’t actually think of any reason why they ever would.

To sell you products.

 

I once had a large sum credited into a current account  sitting there for a couple of weeks (deposit for house) and the bank called me to suggest investment products I ought to consider putting the money into.

[Voice of reason 0]

5 hours ago, Cyclone said:

Normally I'd prefer an email to taking an account number and sort code over the phone, less chance of mishearing or writing it down wrong if you can copy and paste it.  But I think that if there was a change notified to me, I'd call them then and confirm it.

The difference being the email scam is a real account ready to receive the money, and quickly move it to a safe haven.

Just writing a wrong digit from a phone call would unlikely see the money disappear without trace.

[Janus 28]

3 hours ago, Cyclone said:

Not really related to scams though is it.

The link is about hackers stealing over 2 million quid from customer accounts, and you don't feel it is related to scams?  

[Cyclone 10]

15 hours ago, Voice of reason said:

The difference being the email scam is a real account ready to receive the money, and quickly move it to a safe haven.

Just writing a wrong digit from a phone call would unlikely see the money disappear without trace.

Very true, although it can be difficult to recover even then!

15 hours ago, Janus said:

The link is about hackers stealing over 2 million quid from customer accounts, and you don't feel it is related to scams?  

Yes, exactly HACKERS and SCAMS are very different things.

[Top Cats Hat 10]

5 hours ago, Cyclone said:

Very true, although it can be difficult to recover even then!

Yes, exactly HACKERS and SCAMS are very different things.

If your account is hacked, the bank are responsible to restore your account.

 

If you are scammed the bank is not responsible to restore your account except in some cases outlined in this thread.

[petemcewan 27]

Ok , one should be vigilant. But it seems that the scammers are always one step ahead of the security systems. Then,of course, there's insider collusion with organised crime to gather up personal details and use it to defraud /scam people out of their money.

 I watched a programme where an elderly  person explained how she was scammed out of her life savings. She explained that the scammers presented as completely legit. She had no way of telling that they were not kosher. She got her money back in the end.

 I was recently scammed out of £1000 . How it occurs I have no idea. My debt card had been used to pay for £1000 worth of taxi journeys in London. My debit card stays on my person up until I use it to pay for things.

I am now very nervous about using my card and have gone back to using cash.

A large proportion of scamming is undertaken by organised crime-and there appears to be no way of stopping the scammers and bringing them to justice.

We now live in a society where we make a card payment for almost every purchase we make. All that data is gathered up  and organised crime seems to be getting access to it.

 

Edited June 1, 2019 by petemcewan

[Top Cats Hat 10]

31 minutes ago, petemcewan said:

Then,of course, there's insider collusion with organised crime to gather up personal details and use it to defraud /scam people out of their money.

Another reason why you should contact your bank before doing anything silly.

 

I heard an interview once with someone who was scammed by a person pretending to be from his bank.  The scammer said that he was a valued customer as he had been a customer for over 40 years having opened his first bank account in Southampton in 1971. The bloke lived in Scotland and had opened an account in Southampton when he went to university there. He concluded that this must be his bank as no one other than his bank and his parents (who were dead by then) would have known that.

 

Either the scammer was a good guesser or had access to very detailed information about the guy's account.

[altus 538]

On 31/05/2019 at 07:41, Cyclone said:

Very true, although it can be difficult to recover even then!

Given the checksums on account numbers it's likely the bank would have spotted you'd got the number wrong.

34 minutes ago, Top Cats Hat said:

Another reason why you should contact your bank before doing anything silly.

 

I heard an interview once with someone who was scammed by a person pretending to be from his bank.  The scammer said that he was a valued customer as he had been a customer for over 40 years having opened his first bank account in Southampton in 1971. The bloke lived in Scotland and had opened an account in Southampton when he went to university there. He concluded that this must be his bank as no one other than his bank and his parents (who were dead by then) would have known that.

 

Either the scammer was a good guesser or had access to very detailed information about the guy's account.

Or he'd put somewhere his age and that he studied in Southampton.

[petemcewan 27]

Altus,

 

In society today we are giving out our personal details right, left and centre. 

It's scooped up and is being used to scam people.

I really don't see how it can be stopped.

I now have a new email. Some stranger sent me an email saying they had my email address and password;  

When we give out our personal details we cannot be sure that they are held securely.

It's a nightmare.

If a stranger can get into your email or facebook account they can spread lies about you

to everyone who is on your email or facebook account.

It's more than a nightmare-it's monstrous.