Banks’ online security flaws highlights fraud risk

7th February 2023 Consumer Lending | #bank fraud

A study by the consumer group Which? has found that banks are putting customers at risk of fraud by sending security codes via text. In an investigation into 13 current account providers, The consumer champion’s tests found several banks were missing basic online and app protections. The research comes after 29,102 cases of remote banking…

Read more

Complaints about bank scams increase

29th June 2022 Consumer Lending | #bank fraud

The Financial Ombudsman Service (FOS) received nearly 25,000 complaints about current accounts in the year to March, more than any other product. FOS says a big chunk of these were from victims of authorised fraud, such as customers being tricked into transferring money into other accounts often by scammers posing as their bank. Complaints to…

Read more