#272137 by TerranceBoyce
Thu Oct 22, 2015 3:15 pm
http://www.thisislancashire.co.uk/news/13886597.WANTED__Identity_fraudsters_who_used_Bolton_and_Bury_cash_machines_to_steal___112_000/?
The interesting thing about this report is that the bank refunded the victims.
The point being that banks, as a matter of policy, won't refund customers who have handed over their PIN or access codes. Also I am sure that I have security questions to use over the phone, but I wouldn't be able to tell a fraudster what they were if he asked. I could answer them if asked by the bank but they were set up so long ago I can't recall what they are. The only case where a customer may know them is if he uses phone banking.
Frauds using security code challenges are most likely internal frauds or procedure failures through banking phone centres. Getting a new card issued and sent to a new address should have been a clear red flag. An alternative to this is having an insider within the postal system intercepting cards. When that happens the risk to banks is great.
There is no quicker way for a bank to lose money than through failures in security procedures.
The interesting thing about this report is that the bank refunded the victims.
WANTED: Identity fraudsters who used Bolton and Bury cash machines to steal £112,000
Two Barclays Bank customers lost a total of £112,000 in cash withdrawals and debit card purchases between September 10 and October 6.
Police have now released CCTV of a man they want to speak to in connection with the thefts.
Officers said the bank had earlier taken calls from men purporting to be the victims and requesting new debit cards, a credit card and PINs for each.
The offenders passed all security questions and the new cards and PINs were sent via post.
Det Sgt David Henshall said: "Both victims have now been reimbursed by the bank, meaning that Barclays is now the victim of this crime.
The point being that banks, as a matter of policy, won't refund customers who have handed over their PIN or access codes. Also I am sure that I have security questions to use over the phone, but I wouldn't be able to tell a fraudster what they were if he asked. I could answer them if asked by the bank but they were set up so long ago I can't recall what they are. The only case where a customer may know them is if he uses phone banking.
Frauds using security code challenges are most likely internal frauds or procedure failures through banking phone centres. Getting a new card issued and sent to a new address should have been a clear red flag. An alternative to this is having an insider within the postal system intercepting cards. When that happens the risk to banks is great.
There is no quicker way for a bank to lose money than through failures in security procedures.
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