Jeffrey Shaw Posted October 18, 2018 Share Posted October 18, 2018 BBC News https://www.bbc.co.uk/news/business-45900955 reports on an improvement in online banking, by which (from next year) a paying bank will have to check not only the receiving bank's sort code and account number for the recipient but also the name of the recipient. All being well, this might reduce the odious frauds. Link to comment Share on other sites More sharing options...
ANGELFIRE1 Posted October 18, 2018 Share Posted October 18, 2018 BBC News https://www.bbc.co.uk/news/business-45900955 reports on an improvement in online banking, by which (from next year) a paying bank will have to check not only the receiving bank's sort code and account number for the recipient but also the name of the recipient. All being well, this might reduce the odious frauds. Don't hold your breath, the criminals will, as we post on here, be making plans to defeat the new system even before it comes into operation. Angel1. Link to comment Share on other sites More sharing options...
alchresearch Posted October 19, 2018 Share Posted October 19, 2018 Its just a shame that these online services aren't reliable. 28th Sep: HSBC and TSB outages: Customers locked out of online banking http://www.cityam.com/263969/hsbc-and-tsb-outages-customers-unable-access-accounts 21st Sep: RBS, Natwest and Ulster Bank rocked by Friday morning outage http://www.itpro.co.uk/it-infrastructure/31961/rbs-natwest-and-ulster-bank-rocked-by-friday-morning-outage Link to comment Share on other sites More sharing options...
Top Cats Hat Posted October 19, 2018 Share Posted October 19, 2018 All being well, this might reduce the odious frauds. It won't do anything about the same frauds where the target is asked to withdraw their money in cash so that a courier from the bank can come to collect it and 'pay it into a safe new account'. Also if the scammer sets up an account in the same name as the victim, how will the originating bank know that the second account isn't a legitimate one. Personally I'm amazed that anyone still falls for this scam. There can't be many people left that don't know that if 'your bank' rings you and tells you that your account is under threat and you need to transfer it all into another account, not only will you not see the money again but your bank won't refund you as you voluntarily gave your money away to a third party. Link to comment Share on other sites More sharing options...
Anna B Posted October 20, 2018 Share Posted October 20, 2018 Trouble is, every time a banking scam is 'foiled,' a new one crops up, even more ingenious than the last. No such thing as 'safe as the bank of England' any more. Banks are not safe, but what's the alternative? Link to comment Share on other sites More sharing options...
Ontarian1981 Posted October 20, 2018 Share Posted October 20, 2018 (edited) Trouble is, every time a banking scam is 'foiled,' a new one crops up, even more ingenious than the last. No such thing as 'safe as the bank of England' any more. Banks are not safe, but what's the alternative? My bank guarantees my funds are safe because they cover 100% the cost of any fraudulent transaction, should my account be compromised. I thought this was common practice. I am talking about online banking in particular. Edited October 20, 2018 by Ontarian1981 Link to comment Share on other sites More sharing options...
muddywolf Posted October 20, 2018 Share Posted October 20, 2018 Goods news regarding banks would be any of the following.. 1)Half decent interest rates 2)Half decent borrowing rates (inc mortgage) 3)No daft penalty charges that can cripple late payers with charges on top of chargers All that announcement is, is something that should have been implemented long ago and the fact it wasn't there since day 1 is an embarrassment to the system. Link to comment Share on other sites More sharing options...
ez8004 Posted October 20, 2018 Share Posted October 20, 2018 Trouble is, every time a banking scam is 'foiled,' a new one crops up, even more ingenious than the last. No such thing as 'safe as the bank of England' any more. Banks are not safe, but what's the alternative? Banks are perfectly safe. If the account holder is stupid enough to undermine its security, then there is not much you can do. Link to comment Share on other sites More sharing options...
Top Cats Hat Posted October 21, 2018 Share Posted October 21, 2018 My bank guarantees my funds are safe because they cover 100% the cost of any fraudulent transaction, should my account be compromised. I thought this was common practice. I am talking about online banking in particular. Would they cover you if you were fraudulently convinced to transfer your money into another account? Link to comment Share on other sites More sharing options...
Ontarian1981 Posted October 21, 2018 Share Posted October 21, 2018 Would they cover you if you were fraudulently convinced to transfer your money into another account? I don't really know about that and I am sure I don't really need to know as that will never happen in my case. The only transfers I deal with are within my bank and my family, anybody who goes out of those boundaries do so at their own risk, in my opinion. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now