Expert calls for two-second check to protect against fraud | UK | News

On BBC Morning Live, a consumer expert highlighted some simple steps people can take to protect their bank accounts from unauthorized transactions. According to a nationwide study, these checks took only a few seconds, and this turned out to be an important precaution that everyone should take into account as much as possible.

During BBC Morning Live, presenter Louise Minchin told viewers that nationwide research shows people are targeted by an average of “two scam calls” a week. Describing it as “a lot of calls,” he detailed the protective measures banks have put in place to help customers stay safe and beat scammers.

He explained that in fixing the problem, Nationwide has launched a new feature called Call Checker that allows people to verify whether a call is legitimate or not. So how does it work?

“What this means is; nationwidesomeone calls you and you’re not sure if they’re actually from the bank, you can open the app, click on more and then click on call controller and instantly you’ll see that you’re calling Alex.

“And if you’re not on a call, that means you’re not on a call with us. That’s very reassuring to people.” The name, for example Alex, will change depending on who you talk to on the phone.

Nationwide isn’t the only country offering this protection. Louise added: “Barclays is another example. If you receive a call claiming someone from Barclays is calling you, you can request a notification from your Barclays app. It’s not on your phone or in a message.”

“So you go into your app and you can see if the person calling you is actually your bank. Monzo and Starling do this, they call it ‘call status alerting’. It will tell you if you’re actually talking to your bank. Revolut’s have what they call a ‘We’re Not Talking to You’ feature. It says pretty clearly at the top of the screen whether they’re talking to you or not.”

This notification should read: “Revolut is not looking for you.” Louise finds these features useful and admits: “You’d put the phone down right away, wouldn’t you?” If the bank’s app says they are not calling you.

Did you pay the wrong person?

In another prevention solution, which Louise described as “interesting,” she noted that Monzo has added a payment reversal feature. “This means that if you make a payment, you have 60 seconds to stop that payment before it goes through.

“And 60 seconds doesn’t sound like a very long time, right? But it actually makes you wonder, ‘Did I send this to the right person?’ “It makes you think.”

Accordingly Moneyhub’s researchOne in 10 people in the UK have accidentally sent money to the wrong person.

Reverse Monzo payment step by step:

1. At the top of the payment confirmation screen, you will see a timer with the option to reverse the payment.

Prevent running out of bank

Urging people to carry out these quick checks to prevent their bank accounts being emptied, Louise said other security options included multi-factor authentication and “facial recognition”, which were “really good”.

You can also receive a code as well as notifications on your phone when you spend. “I’ve mentioned this before,” he cautioned, adding: “One-time passwords; just give it to your bank. But if you have this app, you’ll be able to check whether it’s actually from your bank.” Don’t forget to freeze your card if you lose it, he added.

give me an okay

But the features don’t end there. Louise said: “Monzo has a feature where you can nominate a friend or family member who needs to say ‘ok’ if you’re going to be transferring a lot of money.

“So you can talk about a vulnerable person, of course you need to get their consent as well, but it’s a really good check. And finally, some banks, including Santander’s app, automatically blur sensitive information and block banking transactions if remote access software detects it.”

This is particularly useful in situations where fraudsters attempt to access bank details via remote access and gain virtual control of the victim’s device.

Louise’s highlights

Louise concluded by highlighting three key security measures:

For example: “Nationwide partnered with Independent AgeThey have an expanded helpline that provides support to victims of fraud.

“Barclays has Digital Eagles Program that offers virtual sessions designed to help people make sure their technology is up to date.

“Charities will also help, Age England offers a free advice line and IT training for seniors, and lastly, Phone Preference Service.

“This is a free opt-out service to prevent unwanted calls on mobiles and landlines and is definitely worth considering. Because if you can stop these scam calls in the first place, you won’t need to check this with your bank.”