Leading consumer rights groups have called on major UK banks to increase account security to combat mobile device fraud.
which one? The attackers claimed that consumers could impersonate Surfhis users to obtain her PIN, which consumers often share between phone lock screens and banking apps. Then, if the device is stolen, this knowledge could potentially unlock the victim’s mobile banking account.
The group said banks should take better controls, such as tightening restrictions on setting new recipients and resetting login credentials, to minimize the damage done by fraudsters who break into victims’ accounts. It says.
“The Barclays app allowed fraudsters to add new recipients simply by entering their debit card details stored in the app, meaning they didn’t have to bypass any additional security checks.” claimed.
“The bank sent fraud alerts via SMS, but if the phone was stolen, it would do nothing for the account holder.”
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During the login reset process, some banks ask customers to re-enroll in the app or pass an identity check such as a selfie video. However, some only ask for basic information that scammers can easily obtain, such as one-time his passcode sent by SMS or card details stored in the app. Added.
“Which one? We are asking banks to stop relying on SMS to send sensitive information and fraud alerts. If your phone is stolen, criminals can view messages sent via SMS or You can insert your SIM into another phone to continue receiving messages.
which one? Banks and carriers also want to explain to customers how they can better protect themselves.
“For example, customers can add a unique PIN to their SIM and disable preview notifications when their phone is stolen, preventing thieves from viewing messages without unlocking the phone,” the company said. I’m here. “Banks can also help customers quickly secure their accounts by not allowing them to ‘distrust’ the phone linked to their account. “
UK Finance said mobile banking fraud losses were £15.7m in the first half of 2022, down 8% year-on-year. They account for about a quarter of all online banking fraud losses.
