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Mups
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Northamptonshire
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26-05-2018, 04:30 PM
1

Warning for TSB customers

Whatever will these scammers think of next!
I have just received this alert:

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There has been an increase in reports made in May by TSB customers relating to ďport-outĒ fraud. Fraudsters are number porting a victimís telephone number to a SIM card under their control and then using the number to access the victimís bank accounts.



The increase in the number of reports corresponds with the timing of TSBís computer system update, which resulted in 1.9 million users being locked out of their accounts. Opportunistic fraudsters are using TSBís system issue to target individuals, which follows the increase in phishing and smishing communications also targeting TSB customers this month. Victimsí bank account and personal details including their phone number are collected by the fraudster, providing them with the information to execute the fraud.



Number porting is a genuine service provided by telecommunication companies. It allows customers to keep their existing phone number and transfer it to a new SIM card. The existing network provider sends the customer a Port Authorisation Code (PAC), that when presented to the new provider allows the number to be transferred across. This service can, however, be abused by fraudsters.



To gain control of the victimís phone number, fraudsters convince the victimís mobile phone network provider to swap their number on to a SIM card in the fraudsterís control. Once the fraudster has control of the number they are able to intercept the victimsí text messages, allowing them to use services linked to the victimís phone number. This can include requesting an online banking password reset or access to any two factor authentication services.



Victims have reported large losses as a result of this fraud. One victim initially dismissed text messages received from their network provider containing a PAC number. Two days later £6,000 was removed from the victimís TSB current account. The victim subsequently contacted their phone provider and was informed that someone contacted the provider purporting to be the victim and had cancelled their contract and transferred their number to a new SIM. This action allowed the banking fraud to take place.

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Ffosse
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Edinburgh
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26-05-2018, 04:50 PM
2

Re: Warning for TSB customers

For this very reason/possibility I only keep around £100 in my TSB account within the rest stashed away in a savings account my card can't access. And TSB only has my landline number.

I've not been happy with TSB lately with their IT transfer debacle but am too old and ill and lazy to change banks.
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26-05-2018, 09:54 PM
3

Re: Warning for TSB customers

Originally Posted by Ffosse ->
For this very reason/possibility I only keep around £100 in my TSB account within the rest stashed away in a savings account my card can't access. And TSB only has my landline number.
Yep this is eminently sensible. I too have a current account and a separate saving account. The latter has most of my money in it. The current account has very little at any point in time. I regularly transfer money from savings to current account as and when needed. If my current account card gets stolen, hacked or otherwise compromised then I can't lose a lot of money.
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Lindyloo
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isle of wight
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30-05-2018, 07:17 PM
4

Re: Warning for TSB customers

Because of the issues TSB has had, they have increased their interest rate to 3% from 1.5%.

But I tried to phone them yesterday and no reply............they really could do with more staff!!
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