How To Bank On The Internet Safely

by Glenn Fisher

You can thank your fellow Shortcut readers for today’s issue...

Yesterday’s email (Watch Out For This Big-Name Bank Scam) drew such a huge response that today I thought I’d just share some of those responses with you.

Some great advice was sent in and the best of it is below. But thank you to everyone who wrote in, it’s thanks to you that Shortcut is what it is.

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Now, it seems most of you have received a scam email from one bank or another.

I was going to list all the banks mentioned but basically it appears the only bank that wasn’t mentioned was the empty whiskey bottle full of 5ps on my mantelpiece.

The bottom line is: if anyone is asking for your bank details make sure you confirm they are who they say they are before giving anything away.

However, it can become a bit of a Catch 22 situation as Liz, reader and former internal fraud investigator for one of the major high street banks, explains...

"Glenn,

In the event that your bank does genuinely telephone you, they will not answer any ‘security question’ that you decide to ask them, until you have provided them with personal information which enables them to identify you first. This is due to the Data Protection Act - giving you any information before they have positively confirmed they are talking to the right person would be a breach.

"This is a real-life Catch 22 situation!

"Suggested solutions: ask the caller for a free phone number that you can use to ring them back on, together with any necessary reference, or, ask them to write instead."

So there you go, get a number and reference to call back or get them to confirm in writing.

How to bank on the internet safely

In regard to internet banking, yesterday I mentioned that when the bank does genuinely need to contact you they’ll do so via the security of your personal log in.

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But here’s a good tip from Sally...

"Hi, I also receive at least 3 bank scams a week, from various banks that I do not hold an account with, also telling me that if I do not update my banking details with them my account will be suspended.

"I have recently moved to Portugal and the bank manager explained to me that anyone that does internet banking should always close their bank pages down through the click on options on the bank page to fully shut the pages down. If they do not do this and only close the page by clicking on the X in the top right hand corner, then they have not fully closed down the details of their account and could be the subject of internet hackers.

"Hope this will help some people."

Must admit, I’ve often just hit the X to close out of my account. I’ll certainly be logging off properly in future.

And still on the bank front, check this out...

Poor old Paul, who alerted us to the scam I mentioned yesterday, got hit again...

"Hi Glenn,

"They say ‘lightning cant strike twice’. Well, after my email to you yesterday re Bank scam by email I have received one today by phone!

"Initially asking for my wife when I made out she was not available they switched it to me. Basically it’s along the lines of...

"We can get back for you from your bank all bank charges you have incurred over the last 5 years due to new legislation. This could amount up to several thousand pounds. However in order do this to verify the account and transaction we need a credit card number from you.

"Needless to say I said no and put the phone down."

As I said earlier, bottom line: if anyone is asking for your bank details make sure you confirm they are who they say they are before giving anything away.

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If you’re still not comfortable, take Liz’s advice and get it confirmed in writing.

Finally for today, we leave the banks and look to British Telecom.

A lot of you have been in touch about this possible scam that is doing the rounds.

Basically someone calls you declaring to be from BT and demanding you make a payment (£31.00 seems to be the asking price) or else you’ll be disconnected and charged £118.00.

It’s a scam. But people have mentioned it’s quite sophisticated and they can see how some people might take the bait.

So, be aware and if you do get a call from someone claiming to be from BT, apply the same bottom line as I said with the banks...

Before giving details by email or phone, confirm theirs. And if ever in doubt: get it writing.

Oh, and if Bob Hoskins ever calls asking for your bank details...

Definitely don’t give them to him!