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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
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Find out what the Royal Bank of Scotland savings accounts interest rates are.
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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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