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RBS customer lost thousands of pounds in scam • BBC News
David Quinn:
<p>A Royal Bank of Scotland customer had more than £4,300 stolen from her account by a fraudulent caller who got one of her security questions wrong, BBC Watchdog Live has found.

The bank insisted for more than a year that Charlotte Higman was aware of the transaction and refused to refund her.

The Financial Ombudsman Service (FOS) agreed with the bank when a complaint was raised in October 2017.

But earlier this month, RBS apologised and issued Charlotte a full refund.

Charlotte, from Totnes in Devon, believes that RBS repeatedly failed to pick up on evidence, including warnings raised in its own security processes.

In a recording of the fraudulent phone call obtained by Watchdog Live, a woman can be heard incorrectly answering a security question relating to Charlotte's occupation.

Despite this, a transaction of £4,318 is approved by the bank and it is only after the caller requests a second transaction, and is unable to answer additional security questions, that a warning is raised on Charlotte's account.

The bank's own records show that the phone call, in January 2017, was marked as a "potential account takeover" and the caller failed the bank's voice recognition checks. Despite this, the initial transaction was not reversed.</p>

Reading between the lines, the only reason the customer (Charlotte) was able to prove this was because she got hold of the recordings - presumably through data protection law (because it relates to "her"). The fraudster had already conned her landline provider to divert her number to a mobile phone - which the bank rang to confirm the transaction.

Clearly, humans aren't good at spotting chained fraud.
Bank  fraud  rbs 
19 days ago by charlesarthur
Interest Rates FCA
Find out what the Royal Bank of Scotland savings accounts interest rates are.
RBS  Banking  UK 
may 2018 by bartkuiper
RBS unit memo told staff to let clients ‘hang themselves’
“Avoid round number fees — £5,300 sounds as if you have thought about it, £5k sounds like you haven’t.”
rbs  sme  grg  banking  lowtrustsociety 
january 2018 by yorksranter
Forbes Welcome
RT : My take on RBS's results. Beneath that headline loss lies a much stronger bank.
RBS  from twitter
february 2017 by kcarruthers

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