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Mobile phone fraud: 'They stole £22,500 using my banking app’
- fumblebee 4y agoDo people here consciously think about this sort of fraud, and how do you secure yourself against it? (e.g. biometric locks on email accounts and notes?)
- dazc 4y agoI would say pin lock on the device would render such an attack very unlikely until I read he claimed the device was pin locked? Maybe it was simple to guess , or something else going on? I should congratulate the thieves on accessing his Barclays account though. I was a customer of Barclays for many years but simply got fed up of constant technical errors preventing me from accessing my own funds. I guess they got double lucky in this regard?
- fumblebee 4y agoFrom the article, it suggests that the thieves “shoulder surf” the victims until they see them type in their device pin, then after pickpocketing either use that same pin for the app, or search through notes for sensitive passwords and the like. > I should congratulate the thieves on accessing his Barclays account though. I was a customer of Barclays for many years but simply got fed up of constant technical errors preventing me from accessing my own funds. This is certainly one way to keep your money safe! Bravo, Barclays
- Iolaum 4y agoIt's a matter of perpsective. When you are a user you take note of the times it didn't work. When you are a thief, you only need it to work once ;)
- shubb 4y agoJust a practical answer - I have 3 bank accounts - a spending account, a current account that just pays my mortgage and tax, and a savings account. Only the spending account has an app on my phone, and it only ever has a months spending in it so the amount that can be stolen is limited. In order to take my savings (quickly) a theif would also have to compromise the 'mortgage' current account as it is only set up to pay into that account. If my phone gets stolen, I expect the current account to be cleaned out with a 5K loss (2K balance + 3K max overdraft), and I'll lose access to anything with 2fa set up for a few days. That would suck a lot.
- zhte415 4y agoMobile banking for a current account only, internet banking for the rest. The only email account is dedicated to mobile - alerts and notes to self. No Google profile set. I don't regard this is particularly cautious.
- fumblebee 4y agoHm, I have Revolut and they do have a web app, though they are certainly mobile-first, but not mobile-only. In any case, this is a nice strategy to hedge.
- zhte415 4y agoI edited this before seeing your reply. You're correct, I was out of the loop on Revolut's web app and might give them another look, thanks.
- beardyw 4y agoNever seen the need to put a banking app on my phone. Seems as if that's a good idea.