Internet Banking - Fraud Alert

[Investor]

Never thought it would happen to me.

Having read about internet banking fraud over the years, I did not expect it to happen to me.

I checked my bank a/c this morning and found to my horror, a maximum of $2,000 a day, was withdrawn through the internet banking, from my a/c this morning.

This led to a lot of hassle. Had to go to the bank. Stopped the a/c. Now waiting for the bank to investigate where the money has gone. They can only call me tomorrow.

Later, I have to lodge a disputed transaction report and see what happens.

Anyone else encountered this???

 

[krisbarry]

Not so much with fraud but a glitch in the I.T. system with ING.

Had a managed investment and withdrew the funds and closed the account via the net. The account was still visible on the system and a few days later I changed my mind and later transfered the money back into the managed investment account. It let me do that, then that afternoon it closed the account and lost my money in the system.

Think the I.T. department forgot to put a "IF" and "Then" statements in its computer program, which would have stopped this happening.

This is what should have happened if good I.T. practises were in place...

*Account is closed or waiting closure, then do not accept funds.

I lost $10,000 in the system, many frustrating phone calls and a weeks wait to get my money back. I had a good bitch to ING, they finally gave me my money back and $100 for my troubles.

I now do not deal with ING anymore!

 

[sam21poddy]

I had an item for approximately $1,000 on my Mastercard which I didn't buy. I have had to lodge a disputed transaction application and am waiting to see what happens. I asked the bank employee how I could stop this happening again and he said "You can't".

 

[boiler123]

I once had someone kept charging $200 (three times) to my Visa card to recharge their Telstra prepaid phone card. I appealed successfully and got the transactions reversed. However, recently I made a very foolish and embarassing mistake. My Mastercard bill came and there was an amount and name on it I did not recognise so I gave the bank the full blast - I did try to think very hard if it was me charging something but could not think of anything. Then a month later I got a phone call regarding a conference I had registered for that they were going to send me a cheque to reimburse the fee as the conference was paid for by another organisation. As soon as I heard the cheque amount, I immediately connected that I did charge that amount to my Mastercard. So, after many calls admitting it was my mistake etc - as the name on the statement has remote connection to the name of the conference - and weeks later I got everything sorted out.

 

[bvbfan]

I had an item for approximately $1,000 on my Mastercard which I didn't buy. I have had to lodge a disputed transaction application and am waiting to see what happens. I asked the bank employee how I could stop this happening again and he said "You can't".

You have to keep the numbers on the card hidden at all times, never let the card out of your site (preferrably hold onto the card at all times)
Never buy of the internet or over the phone, and be wary of card swipe machines, both the old fashioned imprinters and the new electronic devices
Imprinters, see what is done with the carbon copy
EFTPOS terminals could infact be copying (skimming) terminals where your card details are stored then later copied onto a blank card

I've heard of cases where a camera phone was used to take a pic of the card while it was on the shop counter, or in someones hand

But for the convience what are you going to do?

Places to avoid - restuarants (certain ones I wont mention seem to have more incidents from my experience)

 

[WaySolid]

You have to keep the numbers on the card hidden at all times, never let the card out of your site (preferrably hold onto the card at all times)
Never buy of the internet or over the phone, and be wary of card swipe machines, both the old fashioned imprinters and the new electronic devices
Imprinters, see what is done with the carbon copy
EFTPOS terminals could infact be copying (skimming) terminals where your card details are stored then later copied onto a blank card

I've heard of cases where a camera phone was used to take a pic of the card while it was on the shop counter, or in someones hand

But for the convience what are you going to do?

Places to avoid - restuarants (certain ones I wont mention seem to have more incidents from my experience)

So where on this earth can I use my card? I have purchased off the internet for a decade and use my Visa card internationally and locally almost all the time. Never a problem yet.

Sure there is a risk, wouldn't be the end of the world if I had to replace my card with a new one however and the safeguards in place seem to be adequate for the amount of benefit I derive.

 

[doctorj]

On the subject of internet banking, anyone with transactions made through internet banking with the CBA this week may find the transaction has doubled in amount or been executed twice. This is a known error and has been fixed and to the best of my knowledge they are reimbursing all associated fees. It does pay to check.

When it comes to credit cards, there is NOTHING you can do to stop people from fraudulently charging transactions to your card. It's the unfortunate downside of the way the credit card system works. Check your statements and if you ever find a fraudulent transaction, file the appropriate paperwork with your issuer and expect a 4-6 week wait for it to be reimbursed. Then request that you be issued with a new credit card number. Once someone finds a valid number they can defraud, they are likely to do it several times. Also, never input your credit card details to an unsecure website - including google. Many people are tempted to search for their c/c number on google to see if its been put online anywhere - don't! Google records the things people search for and the list of things people search for are available.

Finally, with internet banking, don't log on to it on a public terminal - including shared work computers, internet cafes and universities or colleges. Check the computer you do use regularly for spyware, trojans, virii and keystroke loggers. Your password is your pin! Look after it and change it often. Don't use words or phrases. Do used mixed case and letters and numbers. In fact, since you don't have to use a card with your internet banking details, nor is there the risk of being traced or photographed (if the perp is smart enough), its actually far more valuable.

 

[salz]

Never thought it would happen to me.

Having read about internet banking fraud over the years, I did not expect it to happen to me.

I checked my bank a/c this morning and found to my horror, a maximum of $2,000 a day, was withdrawn through the internet banking, from my a/c this morning.

This led to a lot of hassle. Had to go to the bank. Stopped the a/c. Now waiting for the bank to investigate where the money has gone. They can only call me tomorrow.

Later, I have to lodge a disputed transaction report and see what happens.

Anyone else encountered this???

Care to reveal which bank you banks with?