Victim of Fraud this w/e

[anonymous-user]

Posted in p&p for the extra exposure...

I believe that my bank have made a number of mistakes which have directly led to my business(so, me in effect) becoming the victim of fraud.

First off, where can I take my business finances? I am willing to accept more onerous security in order to avoid the possibility of morons making transaction decisions on my behalf

Secondly, what is the best approach towards redressing the situation? And I want to be fully reimbursed for time spent sorting out this upheaval, and the worry, and the loss of sleep. I also want to impress upon them how much they've abused my trust, if they've done what I think they've done.

It's HSBC and up until now they've been ok but their oversight this weekend is unforgivable and cost me thousands (in the short term).

Cheers

Coanda

[davemac250]

You might have to share a bit more info for more responses.

[Busa_Rush]

davemac250 said:

You might have to share a bit more info for more responses.

Bank name,branch, account number, authorised signatory etc, just the basics

[anonymous-user]

Yes, I suppose my first post was a bit vague.

You must also be disappointed that this story doesn't involve lap dancers (not as disappointed as me!)

Suffice it to say that I believe that my bank mishandled a sensitive form which is the only place my account details, address and my signature are all found in the same place. If this is not the case I am completely flummoxed at how they got the info because I don't mess about witth this.

The fraudster then used telephone banking (which I am not signed up to) to transfer money between accounts (which no one should have authorised) on the basis that he submit a letter to the bank (which contained my signature) and that, as it matched the one held on file was used to authorise the transaction. They were going to try similar by faxing the request, but since I'm not signed up for that either, the bank rang me, and thats the only way I found out. To my mind thats multiple failures at multiple levels at HSBC.

Essentially my personal security has been nullified by their failings.

So what do people think about off-high street banks? any recomendations?

Cheers

Coanda

[Piglet]

Sorry, I'm missing what the bank mishandled initially and how you know that it was them? What can you prove?

[blindswelledrat]

coanda said:

Yes, I suppose my first post was a bit vague.

You must also be disappointed that this story doesn't involve lap dancers (not as disappointed as me!)

Suffice it to say that I believe that my bank mishandled a sensitive form which is the only place my account details, address and my signature are all found in the same place. If this is not the case I am completely flummoxed at how they got the info because I don't mess about witth this.

The fraudster then used telephone banking (which I am not signed up to) to transfer money between accounts (which no one should have authorised) on the basis that he submit a letter to the bank (which contained my signature) and that, as it matched the one held on file was used to authorise the transaction. They were going to try similar by faxing the request, but since I'm not signed up for that either, the bank rang me, and thats the only way I found out. To my mind thats multiple failures at multiple levels at HSBC.

Essentially my personal security has been nullified by their failings.

So what do people think about off-high street banks? any recomendations?

Cheers

Coanda

Exactly the same thing happened to me with Barclays.
The assumption is that the fraudster is involved with someone inside the bank .
All the High Street banks are exactly the same.
I think you are being a bit moldramatic about it though.
What time? WHat suffering?
You get reimbursed and you know you are going to get reimmbursed so whats the big deal?

[Gunny Sergeant D]

Busa_Rush said:

davemac250 said:

You might have to share a bit more info for more responses.

Bank name,branch, account number, authorised signatory etc, just the basics

.......and sort code

[Jasandjules]

coanda said:

Suffice it to say that I believe that my bank mishandled a sensitive form which is the only place my account details, address and my signature are all found in the same place. If this is not the case I am completely flummoxed at how they got the info because I don't mess about witth this.

Presumably the bank has confirmed it is indeed in receipt of the form which you are talking about? I.e. it wasn't lost in the post. That means it is presumably a bank employee who is on the fiddle.

If they have been negligent then you are entitled to seek recovery for all consequential losses. I would assume that you will be re-imbursed as a matter of course the money which they have transferred. I assume they are not suggesting that it will take them 28 days to do so (if they are, inform them you will be charging interest at 8%). As for your time costs in dealing with their actions, no harm in that, if you are self employed you can recover it (I cannot see them having any contractual grounds for not doing so).

I assume also their fraud/security measures prevented further transactions, so I guess on that basis they may well act quickly in your matter. I'd be requiring them to prosecute whoever was responsible for the theft as well.

[H_Kan]

I've found from liasing with banks for clients etc that Coutts are extremely helpful and old fashioned in terms of offering good service. I don't know how good their security is, but their general attitude would make me feel they would take better care of my details. Granted their charges etc are higher then other banks, but for business banking I wouldn't want to be messed around.

[anonymous-user]

Hmmm melodramatic? maybe. However, I take my personal security very seriously. This is a disgrace. It has cost me time, money and sleep (due to worry).

Jas,
I'm trying to get in touch with them to confirm if they still have the form. There is no other way they could have got this information.

H_Khan,
Thanks, that is one of the banks I am looking in to.

[Sheepy]

Does your business pay for anything by cheque?

[Jasandjules]

coanda said:

Jas,
I'm trying to get in touch with them to confirm if they still have the form. There is no other way they could have got this information.
.

I assume as a business user you have a specific contact person. I'd be on the phone to them pretty sharpish, and record the call.

Their duty to you is stronger as a business to business customer as well...

[steve_amv8]

Sheepy said:

Does your business pay for anything by cheque?

... or by any plastic card, but particularly Maestro ... since that would give the signature and, in the case of the latter, the full sort code and account number ...

[Piglet]

[quote=coanda]
There is no other way they could have got this information.quote]

None of the information you state is especially hard to get hold of...for those of us do who still use cheques we give that info away quite a lot of the time.

[blindswelledrat]

coanda said:

Hmmm melodramatic? maybe. However, I take my personal security very seriously. This is a disgrace. It has cost me time, money and sleep (due to worry).

.

Sorry, Ive obviously missed something in this.
Wasn't this fraudulent transactions from your business account?
THat doesnt have anything to do with your personal safety.
Even if it we your personal account it is not a 'personal' crime as such, merely someone trying to defraud what they consider a completely random account that they happen to have details from.
I can't really comprehend why you would worry about it- certainly not enough to lose sleep over.

[Sheepy]

Piglet said:

coanda said:

There is no other way they could have got this information.quote]

None of the information you state is especially hard to get hold of...for those of us do who still use cheques we give that info away quite a lot of the time.

Hence why I asked if the business used cheques

[Piglet]

Sheepy said:

Piglet said:

coanda said:

There is no other way they could have got this information.quote]

None of the information you state is especially hard to get hold of...for those of us do who still use cheques we give that info away quite a lot of the time.

Hence why I asked if the business used cheques

I know...I just thought I'd make the point in case it was missed

Don't whichever bank this was (can't remember now - HBOS?) have a postal validation for internet banking? When I signed up for Nationwide internet banking it was a two part validation process which required a password/user ID that came by post. I'd be surprised if any of the banks allowed internet banking to be set up just online?

OP have you asked them how this was set up and what their usual procedure is. I'd be more worried that someone was skimming my mail.

[anonymous-user]

Hiya, The only people I pay by cheque are the government. There is no method for paying for anything by card. I know this particular transaction was carried out by 'phone. Since all the cheques I have sent have been cashed ( I don't send many either - so I know they have been cashed) I doubt these have got into the wrong hands.

Blindswelledrat. It is a crime against me (until the bank becomes the aggrieved party). The fraudster has targetted my business account with my stolen details. It is not a random attack.