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"@HSBC_UK allowed fraudsters to transfer all her savings for a period of 6/7 weeks comprised of c.150 transactions to one external account" This doesn't sound
by lol768 3y ago
"@HSBC_UK allowed fraudsters to transfer all her savings for a period of 6/7 weeks comprised of c.150 transactions to one external account"
This doesn't sound right, and the Twitter thread is devoid of much detail as to the root cause here. Last I checked, HSBC had a physical code generator that had to be involved in approving transfers, so how were these transfers (150 of them!) actually made?
So, was this actually APP fraud? (in which case - let's not beat around the bush here - it's almost certainly the account holder's fault, but obviously things are less black and white when the account holder is vulnerable). Or was there actually a flaw in HSBC's account security which allowed criminals to gain access to the account?
None of these facts excuse the poor customer service, but there's generally good reasoning that these cases are dealt with by a dedicated fraud team and not by random staff in branches. There needs to be more regulation to ensure that they're staffed appropriately and victims aren't left in the lurch, though.
- stevemk14ebr 3y agowhat makes it 'clearly not right' and why is it 'obviously the account holders fault'? Victim blame much?
- lol768 3y ago> what makes it 'clearly not right' It doesn't add up with my experience of how banks (incl. HSBC) deal with transfers. > Victim blame much? If we can't have a rational conversation about the actual factors leading to these sorts of events (i.e. exactly how the transfers were authorised, where the weakest link in the security chain was), how are we supposed to prevent future occurrences? We can have all of the technical measures in the world in place, but if a customer explicitly consents to someone else logging in, or making these transfers - we should be discussing non-technical solutions instead. Equally, if it turns out that the UI design of the existing security measures was poor and that lead to this case, then that's something that industry can and should improve upon (or be forced to, via regulation).