HACKER Q&A
📣 c7DJTLrn

In an app-centric world, how does one protect themselves from fraud?


There's been a number of stories recently in the UK about phone thieves draining peoples' current accounts and savings. Phone theft is a major problem in London.

  "Mobile phone fraud: 'They stole £22,500 using my banking app'": https://www.bbc.co.uk/news/business-64240140
  "Fraud: 'I had £18,000 stolen after my drink was spiked'": https://www.bbc.co.uk/news/business-59494524
From what it sounds like, these unfortunate people had the same security measures on their phones as everyone else.

This prompted me to review the apps I have on my phone especially the ones I use for savings. I mainly use Zopa, which doesn't even offer a web dashboard. It's app only.

In this case, what are cautious people supposed to do? Have a second phone that stays at home? We are lucky to have very modern and accessible financial services in the UK, but sometimes it feels too modern.

  👤 iforgotpassword Accepted Answer ✓
None. You're fucked.

Trust your phone's security, because that's what they all rely on, but if it doesn't hold up lol, it's on you to prove there was a security issue or similar.

I have all my banking apps on a dedicated phone at home. It's inconvenient, but I sleep better.

👤 mmphosis
The only winning move is not to play.