digital banking fraud
DESCRIPTION
More and more of us are turning to computers and mobile phones to manage our money. Find out the current threats and scams to digital banking, and see tips on how to stay safe when looking after your finances online.TRANSCRIPT
Sources:BBC, Advice Guide, Bank Safe Online, The UK Card
Association, Telegraph, Action Fraud
More and more people are managing their money online, with 26.8 million of us now turning to computers and smart devices to look after our finances.
Did you know?Currently, 356 million transactions are made on mobile phones each year.
But 1 in 10 say they avoid it due to fears around security.
About 50%
Over 75%of 25 - 34 year olds
of all adults
manage their
money online
2007 2008 2009 2010 2011 2012
10
20
30
40
50
60
50
100
150
200
250
300
Number of phishing attacks
Losses from online banking fraud
Annual losses and online attacks
The different types of scams and threats:
When banking on your mobile or smart device:
Tips for staying safe:
Know your rights!
Phishing is the name given to emails sent at random which pretend to be from genuine organisations, such as your bank. These try to trick recipients into disclosing sensitive information, like passwords or bank details.
Malicious software or ‘malware’ is a computer virus which can be installed on your computer without your knowledge.
A common type of malware is called a ‘Trojan’, which can steal private information from your computer.
Some fraudsters transfer stolen money overseas by using ‘money mules’ or ‘money transfer agents’. These are often ordinary people who have been tricked into thinking it’s a legitimate job which offers an easy way to make money.
As long as you have not acted fraudulently or without “reasonable care”, your bank should reimburse you if somebody else has used, stolen or cloned your card.However, you may have to pay a maximum of £50 if any funds were lost before you reported your card as lost or stolen.
If you think you’ve been a victim of fraud, tell your bank immediately!
Only use official apps/websitesMake sure the app you
download or the website you use is official, and has been
published by your bank.
Download from official storesOnly download apps from
official stores. E.g. iTunes, Google Play, Blackberry App World.
Password protect your phoneIn case it’s lost or stolen, make
sure you have a PIN or password set up to lock your
phone as well.
Write down your IMEIYour unique 15-digit number will
identify your device to your provider, and is usually found in
your battery compartment.
Reset to factory defaultIf you’re selling your phone,
restore the factory settings so that any sensitve data is
deleted from the handset.
Keep updatedYour bank may issue updates for their apps. Make sure these are installed and that you’re
using the current version.
Safeguard your PINNever share your PIN number,
even with family members. And don’t keep it written down, especially near your card.
Check your statementsLook through your statements regularly and tell your bank
immediately if you spot anything unusual.
Shred sensitive documentsNever bin personal documents without destroying them first.
You never know who might get their hands on them.
Only shop on secure websitesDon’t buy from just anywhere. Look for a locked padlock or unbroken key symbol in your
browser’s address bar.
Don’t disclose your detailsYour bank or the police will never phone or email to ask you for your PIN, nor will they come to collect your card.
Check URL’s of web addressesThe URL of your bank’s website
should start with “https”. Try typing the address in yourself instead of clicking on links.
Phishing
Money mules
Malware/Trojans